On Outward-Looking Comparison Utility, Heterogeneous Preferences & the Third Dimension: A Geometric Perspective
AbstractThe difficulties associated with the appraisal of the determinacy properties of a three-dimensional system are circumvented by the introduction of a new geometrical argument. It first brings about a complete and easy-to-use typology of the eigenvalues moduli in discrete time three-dimensional dynamical systems and then provides a new apparatus for assessing from a geometrical standpoint the emergence of local bifurcations. The argument is first illustrated in an environment where outward-looking comparison utility may question the determinacy of the steady state and subsequently used within a competitive monetary equilibrium with heterogeneous agents and financial constraints.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by Centre d'Études des Politiques Économiques (EPEE), Université d'Evry Val d'Essonne in its series Documents de recherche with number 05-07.
Length: 32 pages
Date of creation: 2005
Date of revision:
Local indeterminacy; Three-Dimensional Dynamical Systems; Suboptimal Economies;
Find related papers by JEL classification:
- E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
- O41 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
- E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
You can help add them by filling out this form.
reading list or among the top items on IDEAS.Access and download statisticsgeneral information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Samuel Nosel).
If references are entirely missing, you can add them using this form.