کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
837276 | 908335 | 2013 | 13 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Wealth-sensitive positional competition as a source of dynamic complexity in OLG models
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کلمات کلیدی
موضوعات مرتبط
مهندسی و علوم پایه
سایر رشته های مهندسی
مهندسی (عمومی)
پیش نمایش صفحه اول مقاله
چکیده انگلیسی
This paper examines the interactions between economic activity and consumption externalities in an overlapping generations model. Existence of multiple steady states is studied from a global point of view, and possible mechanisms producing cycles and chaotic behavior are analyzed. Wealth-sensitive positionality is found to be able to generate persistent endogenous fluctuations, whereas wealth-neutral positionality doesn’t. Under wealth-sensitive positionality, the economy may moreover experience complex dynamics, with sensitivity to initial conditions, leading to poverty traps even when starting from relatively large endowments of capital assets.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Nonlinear Analysis: Real World Applications - Volume 14, Issue 1, February 2013, Pages 1–13
Journal: Nonlinear Analysis: Real World Applications - Volume 14, Issue 1, February 2013, Pages 1–13
نویسندگان
Ahmad Naimzada, Pierluigi Sacco, Mauro Sodini,