Cross-diffusion modeling in macroeconomics

DOI10.1007/S12591-014-0224-8zbMATH Open1402.91403arXiv1302.3958OpenAlexW2015900508MaRDI QIDQ2342989FDOQ2342989

Authors: László Balázsi, Krisztina Kiss 

Publication date: 30 April 2015

Published in: Differential Equations and Dynamical Systems (Search for Journal in Brave)

Abstract: This paper deals with the stability properties of a closed market, where capital and labour force are acting like a predator-prey system in population-dynamics. The spatial movement of the capital and labour force are taken into account by cross-diffusion effect. First, we are showing two possible ways for modeling this system in only one country's market (applying a simple functional response and a Holling-type ratio-dependent response as well), examining the conditions of their stability properties. We extend the ratio-dependent model into two countries common market where two kind of cross-diffusion effects are present, and find those additional conditions, whose are necessary for the stability of the global common market besides the stability of each countries local markets. Our four-dimensional model highlights that a hectic movement of the capital toward labour force can cause a Turing instability.

Full work available at URL: https://arxiv.org/abs/1302.3958

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zbMATH Keywords

cross-diffusionfunctional responseTuring instabilityratio-dependencecapital-labour system

Mathematics Subject Classification ID

Macroeconomic theory (monetary models, models of taxation) (91B64)

Cites Work

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Cited In (2)

• On the distribution of capital and labour in a closed economy
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