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econ mod pred prey - Institute of Economic Studies Faculty...

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Institute of Economic Studies, Faculty of Social Sciences Charles University in Prague Goodwin's Predator Goodwin's Predator Goodwin's Predator-Prey Prey Prey Model with Endogenous Technological Progress Jan Kodera Miloslav Vosvrda IES Working Paper: 9/2007
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Institute of Economic Studies, Faculty of Social Sciences, Charles University in Prague [UK FSV – IES] Opletalova 26 CZ-110 00, Prague E-mail : [email protected] http://ies.fsv.cuni.cz Institut ekonomických studií Fakulta sociálních věd Univerzita Karlova v Praze Opletalova 26 110 00 Praha 1 E-mail : [email protected] http://ies.fsv.cuni.cz Discl Discl Disclaimer aimer aimer: The IES Working Papers is an online paper series for works by the faculty and students of the Institute of Economic Studies, Faculty of Social Sciences, Charles University in Prague, Czech Republic. The papers are peer reviewed, but they are not edited or formatted by the editors. The views expressed in documents served by this site do not reflect the views of the IES or any other Charles University Department. They are the sole property of the respective authors. Additional info at: [email protected] Copyright Notice Copyright Notice Copyright Notice: Although all documents published by the IES are provided without charge, they are licensed for personal, academic or educational use. All rights are reserved by the authors. Citations Citations: All references to documents served by this site must be appropriately cited. Bibliographic information Bibliographic information: Kodera, J., Vosvrda, M. (2007). “ Goodwin's Predator-Prey Model with Endogenous Technological Progress. ” IES Working Paper 9/2007. IES FSV. Charles University. This paper can be downloaded at: http://ies.fsv.cuni.cz
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Goodwin's Predator Goodwin's Predator Goodwin's Predator Goodwin's Predator-Prey Model with Prey Model with Prey Model with Endogenous Technological Progress Endogenous Technological Progress Endogenous Technological Progress Jan Kodera Miloslav Vosvrda # # Centre for Economic Dynamics and Econometrics in Prague [email protected] January 2007 Abstract: Abstract: Abstract: Contemporary economics contains mainly two approaches for an explanation of fluctuations of economic activity indicators. The first approach expresses fluctuations as consequences of random external shocks. The second approach expresses fluctuations as a deterministic dynamical process producing more complex behaviour of the economic system. In our article both approaches are applied. A purpose of our paper is to re-formulate traditional Goodwin predator-prey model by including a specific differential equation describing technological progress in deterministic and/or stochastic way. A base of this system contains such variables in interest as a rate of employment, a share of labour, and different forms of a rate of the technological progress.
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