Demonstrates economic fluctuations in a two-sector model, suggesting insights on business cycles and shocks.
This study addresses issues related to economic fluctuations in a model proposed by Zhang (2014) on interactions between gender differences, economic growth and education with endogenous physical and human capital accumulation.Zhangs model is a synthesis of the Solow model (Solow, 1956) and the Uzawa-Lucas two sector growth model (Uzawa, 1965, Lucas, 1988) with Zhangs approach to household behavior.This paper generalizes Zhangs model by treating all the time-independent parameters to be time-dependent.We simulate the model to demonstrate existence of business cycles under different periodic shocks.
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Weibin Zhang (2016) studied this question.
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