Indivisible labor implies chaos
AbstractWe study a simple infinite horizon model with indivisible labor. We characterize the optimal plans under the assumptions that $\beta R = 1$ and that $1/2 \leq \beta
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Bibliographic InfoArticle provided by Springer in its journal Economic Theory.
Volume (Year): 15 (2000)
Issue (Month): 3 ()
Note: Received: May 25, 1999; revised version: June 24, 1999
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Find related papers by JEL classification:
- C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
- D91 - Microeconomics - - Intertemporal Choice and Growth - - - Intertemporal Consumer Choice; Life Cycle Models and Saving
- E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
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- Kamihigashi, Takashi & Roy, Santanu, 2007.
"A nonsmooth, nonconvex model of optimal growth,"
Journal of Economic Theory,
Elsevier, vol. 132(1), pages 435-460, January.
- Takashi Kamihigashi & Santanu Roy, 2003. "A Nonsmooth, Nonconvex Model of Optimal Growth," Discussion Paper Series 158, Research Institute for Economics & Business Administration, Kobe University.
- Takashi Kamihigashi & Santanu Roy, 2005. "A nonsmooth, nonconvex model of optimal growth," Discussion Paper Series 173, Research Institute for Economics & Business Administration, Kobe University.
- Takashi Kamihigashi & Santanu Roy, 2003. "A Nonsmooth, Nonconvex Model of Optimal Growth," Discussion Paper Series 139, Research Institute for Economics & Business Administration, Kobe University.
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