Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/333232 
Year of Publication: 
2025
Citation: 
[Journal:] Journal of Quantitative Economics [ISSN:] 2364-1045 [Volume:] 23 [Issue:] 4 [Publisher:] Springer India [Place:] New Delhi [Year:] 2025 [Pages:] 1259-1278
Publisher: 
Springer India, New Delhi
Abstract: 
Abstract In this paper we expand the neoclassical Solow-Swan model of economic growth by introducing population dynamics with Allee effect. Allee effect implies the existence of a threshold for the viability of populations, i.e. a population below this threshold decreases. Above the threshold, the population gradually saturates. We show that the corresponding capital stock per capita may stabilize at two different levels. Both can be expressed in terms of equilibrium points of the standard Solow–Swan model with particular constant population growth rates. Surprisingly enough, the capital stock per capita performs in the long run better if the population becomes extinct, rather then it advances the saturation level. For this conclusion the decrease of population should be relatively moderate compared to the capital depreciation.
Subjects: 
Economic growth
Solow-Swan model
Allee effect
Capital stock per capita
Persistent Identifier of the first edition: 
Additional Information: 
C62;O40
Creative Commons License: 
cc-by Logo
Document Type: 
Article
Document Version: 
Published Version
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