Aguiar-Conraria, Luís Francisco - Núcleo de Investigação em Políticas Económicas … - 2007
Goodwin's Predator-Prey model is structurally unstable. In its pure form, the model has an equilibrium that is neither stable nor unstable. Ploeg showed that relaxing the hypothesis of fixed proportion technology would stabilize the equilibrium. On the other hand, Goodwin showed that the...