Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
7154903 | Communications in Nonlinear Science and Numerical Simulation | 2018 | 17 Pages |
Abstract
We analyze a multi-sector growth model subject to random shocks affecting the two sector-specific production functions twofold: the evolution of both productivity and factor shares is the result of such exogenous shocks. We determine the optimal dynamics via Euler-Lagrange equations, and show how these dynamics can be described in terms of an iterated function system with probability. We also provide conditions that imply the singularity of the invariant measure associated with the fractal attractor. Numerical examples show how specific parameter configurations might generate distorted copies of the Barnsley's fern attractor.
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Mechanical Engineering
Authors
Davide La Torre, Simone Marsiglio, Franklin Mendivil, Fabio Privileggi,