Dynamics of Capital-labour Model with Hattaf-Yousfi Functional Response

Abstract

The labour force is a fundamental component of every modern economy. It is also called the workforce that is the total number of the people who are eligible to work, including the employed and unemployed people. The company supplies free jobs which number is proportional to the invested capital. In this work, we propose a mathematical model that describes the dynamics of free jobs and labour force. In the model, the rate by which the labour force is filling in free jobs is modeled by Hattaf-Yousfi functional response. Furthermore, we first show that the proposed model is mathematically and economically well-posed. Moreover, the dynamical behavior of the model is studied by determining the existence and stability of equilibria.