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Hopf bifurcation in an overlapping generations resource economy with endogenous population growth rate

Author

Listed:
  • Fazlıoğlu Burcu

    (Department of International Entrepreneurship – TOBB ETU University, Ankara, Turkey)

  • Sağlam Hüseyin Çağrı
  • Yüksel Mustafa Kerem

    () (Department of Economics – Bilkent University, Ankara, Turkey)

Abstract

As scarce environmental resources necessarily put a constraint on population growth, we use more realistic population growth dynamics which contemplates a feedback mechanism between population growth rate and resource availability. We examine the local stability properties in overlapping generations resource economies which takes this feedback mechanism into account. The results indicate that Hopf bifurcation may arise without requiring logistic regeneration or unconventional constraints on parameter values. In particular, Hopf bifurcation is encountered under convex-concave dependence of carrying capacity on the resource availability.

Suggested Citation

  • Fazlıoğlu Burcu & Sağlam Hüseyin Çağrı & Yüksel Mustafa Kerem, 2016. "Hopf bifurcation in an overlapping generations resource economy with endogenous population growth rate," Studies in Nonlinear Dynamics & Econometrics, De Gruyter, vol. 20(5), pages 607-621, December.
  • Handle: RePEc:bpj:sndecm:v:20:y:2016:i:5:p:607-621:n:1
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    References listed on IDEAS

    as
    1. Seegmuller, Thomas & Verch Re, Alban, 2007. "A Note On Indeterminacy In Overlapping Generations Economies With Environment And Endogenous Labor Supply," Macroeconomic Dynamics, Cambridge University Press, vol. 11(03), pages 423-429, June.
    2. Antoci, Angelo & Sodini, Mauro, 2009. "Indeterminacy, bifurcations and chaos in an overlapping generations model with negative environmental externalities," MPRA Paper 13750, University Library of Munich, Germany.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    endogenous population growth; hopf bifurcation; overlapping generations model; renewable resource;

    JEL classification:

    • D90 - Microeconomics - - Micro-Based Behavioral Economics - - - General
    • Q20 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - General
    • J10 - Labor and Demographic Economics - - Demographic Economics - - - General
    • C6 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling

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