This study demonstrates the possibility of cyclic capital accumulation in the case in which there are delays in capital implementation and estimation of capital depreciation. For this purpose, a two-sector growth model with Cobb–Douglas production function is built. It is shown that the stability of the balanced growth may change as lengths of delay change. It is also shown that on the stability switching curve the stability is lost and bifurcates to a limit cycle via a Hopf bifurcation.

中文翻译：

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延迟具有Cobb–Douglas生产函数的两部门经济增长模型

这项研究证明了在资本实施和资本折旧估算存在延迟的情况下，循环资本积累的可能性。为此，建立了具有Cobb–Douglas生产函数的两部门增长模型。结果表明，均衡增长的稳定性可能会随着延迟时间的变化而变化。还显示出，在稳定性转换曲线上，稳定性会丢失，并通过Hopf分叉而分叉到一个极限循环。