Closed-Form Solution for the Solow Model with Constant Migration

Authors

  • João Plínio Juchem Neto Universidade Federal do Pampa, Campus Alegrete
  • Julio Cesar Ruiz Claeyssen Instituto de Matemática, Universidade Federal do Rio Grande do Sul
  • Daniele Ritelli Dipartimento di Matematica per le scienze economiche e sociali, Università di Bologna
  • Giovanni Mingari Scarpello Dipartimento di Matematica per le scienze economiche e sociali, Università di Bologna

DOI:

https://doi.org/10.5540/tema.2015.016.02.0147

Abstract

In this work we deal with the Solow economic growth model, when the labor force is ruled by the Malthusian law added by a constant migration rate I. Considering a Cobb-Douglas production function, we prove some stability issues and find a closed-form solution for the emigration case, involving Gauss' Hypergeometric functions. In addition, we prove that, depending on the value of the emigration rate, the economy could collapse, stabilize at a constant level, or grow more slowly than the standard Solow model. Immigration also can be analyzed by the model if the Malthusian manpower is declining.

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Published

2015-09-07

How to Cite

Juchem Neto, J. P., Claeyssen, J. C. R., Ritelli, D., & Mingari Scarpello, G. (2015). Closed-Form Solution for the Solow Model with Constant Migration. Trends in Computational and Applied Mathematics, 16(2), 147. https://doi.org/10.5540/tema.2015.016.02.0147

Issue

Vol. 16 No. 2 (2015)

Section

Original Article

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