Limit cycles in van der Ploeg's model of economic growth and conflict over the distribution of income (Q1106080)

This study is concerned with the existence of oscillations in the nonlinear dynamic economic growth model proposed by van der Ploeg. The model is built upon the basis of both the neoclassical and post-Keynesian macro approaches. It explains how economic growth can achieve its balanced growth. The Hopf bifurcation theorem and bifurcation analysis method of \textit{G. Iooss} and \textit{D. D. Joseph} [``Elementary stability and bifurcation theory'' (1980; Zbl 0443.34001)] are applied to the model. The existence and characteristics, such as expression, period and stability conditions, of limit cycles are explicitly established.