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Equilibrium Growth and Nonlinear Dynamics in Continuous‐Time Models

Author

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  • Kazuo Nishimura

Abstract

Building on recent work on equilibrium growth models with externality, I re‐examine earlier results from multi‐sector growth models in the continuous‐time framework, and study the structural relationship between technology and local dynamics. It is shown that it is very easy to construct large classes of economies that exhibit Hopf bifurcations or indeterminacy with constant returns to scale in multi‐sector frameworks. JEL Classification Numbers: C41, E32, O41.

Suggested Citation

  • Kazuo Nishimura, 2001. "Equilibrium Growth and Nonlinear Dynamics in Continuous‐Time Models," The Japanese Economic Review, Japanese Economic Association, vol. 52(1), pages 1-19, March.
    • Handle: RePEc:bla:jecrev:v:52:y:2001:i:1:p:1-19
    DOI: 10.1111/1468-5876.00176
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    Cited by:

    1. Anjan Mukherji, 2003. "Competitive Equilibria: Convergence, Cycles or Chaos," ISER Discussion Paper 0591, Institute of Social and Economic Research, Osaka University.
    2. Orlando Gomes, 2022. "Human capital and growth in an OLG-life cycle model," SN Business & Economics, Springer, vol. 2(1), pages 1-26, January.

    More about this item

    JEL classification:

    • C41 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Duration Analysis; Optimal Timing Strategies
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models

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