کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
884813 | 912418 | 2006 | 24 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Chaos in the core-periphery model
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موضوعات مرتبط
علوم انسانی و اجتماعی
اقتصاد، اقتصادسنجی و امور مالی
اقتصاد و اقتصادسنجی
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چکیده انگلیسی
This paper shows that the standard continuous-time core-periphery model (the foundation of the New Economic Geography) is not robust; simply reformulating it in discrete time has profound implications. The continuous-time model can only exhibit stationary long-term behavior, and high transport costs are perceived as stabilizing. In contrast, the discrete-time model can exhibit cycles of any periodicity or chaotic behavior, and high transport costs are de-stabilizing. Furthermore, the sensitive dependence of long-term behavior on initial conditions and on parameters is so acute and so pervasive that it seriously calls into question reliance on propositions derived from the continuous-time model.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Economic Behavior & Organization - Volume 60, Issue 2, June 2006, Pages 252–275
Journal: Journal of Economic Behavior & Organization - Volume 60, Issue 2, June 2006, Pages 252–275
نویسندگان
Martin Currie, Ingrid Kubin,