Abstract
The neoclassical growth model is being analyzed subject to spatially homogeneous perturbations by using the weak nonlinear method of solution and comparing its results to the numerical solution. The latter expands the analytical tools beyond the investigation of Turing instability. The results identify a Hopf bifurcation at a critical value of a controlling parameter, and their comparison to direct numerical solutions show an excellent match in the neighborhood of this critical value and for amplitudes of oscillations that are not too large.
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