Publication detail

Goodwin's Predator-Prey Model with Endogenous Technological Progress

Author(s): prof. Ing. Miloslav Vošvrda CSc., Jan Kodera
Type: IES Working Papers
Year: 2007
Number: 9
ISSN / ISBN:
Published in:
Publishing place: Prague
Keywords: non-linear three-equation dynamic model, predator-prey market, limit cycle
JEL codes: C6, E44.
Suggested Citation: Kodera, J., Vosvrda, M.(2007). “ Goodwin's Predator-Prey Model with Endogenous Technological Progress. ” IES Working Paper 9/2007. IES FSV. Charles University.
Grants: A 7075202 Economic Dynamics: Analytical and Computational Treatemnt of Macroeconomics models
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.
Downloadable: WP 2007_9 Vosvrda

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