Engodenous Fluctuations in an OLG Model with Production
AbstractWe examine the OLG model of Reichlin (1986). By using the Helleman's method (1980), we show that the difference equation of the model can be locally studied from the Feigenbaum equation. We can then explain the existence of endogenous fluctuations acording to the productivity level and the coefficient of risk aversion. These fluctuations take the form of a period doubling bifurcation.
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Bibliographic InfoPaper provided by Centre for Research into Industry, Enterprise, Finance and the Firm in its series CRIEFF Discussion Papers with number 9726.
Date of creation: Oct 1997
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risk aversion; Feigenbaum equation; two-dimensional maps; renormalization;
Find related papers by JEL classification:
- C60 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - General
- E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
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