Discrete Dynamics in Nature and Society
Volume 2007 (2007), Article ID 89464, 13 pages
doi:10.1155/2007/89464
A discrete two-sector economic growth model
Wei-Bin Zhang
College of Asia Pacific Management, Ritsumeikan Asia Pacific University, 1-1 Jumonjibaru, Beppu-Shi, Oita-ken 874-8577, Japan
Abstract
This paper studies a key model in economic theory—the two-sector growth model—with an alternative utility function. We show that the system has a unique stable equilibrium when the production functions take on the Cobb-Douglas form. We also simulate the model and demonstrate effects of changes in some parameters.