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Indivisible labor implies chaos

Author

Listed:
  • Takashi Kamihigashi

    (Department of Economics, SUNY-Stony Brook, Stony Brook, NY 11794-4384, USA)

Abstract

We 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

Suggested Citation

  • Takashi Kamihigashi, 2000. "Indivisible labor implies chaos," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 15(3), pages 585-598.
    • Handle: RePEc:spr:joecth:v:15:y:2000:i:3:p:585-598
    Note: Received: May 25, 1999; revised version: June 24, 1999
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    Citations

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    Cited by:

    1. Kamihigashi, Takashi & Roy, Santanu, 2007. "A nonsmooth, nonconvex model of optimal growth," Journal of Economic Theory, Elsevier, vol. 132(1), pages 435-460, January.
    2. Fujio Takata, 2015. "Two Movement Patterns under the Balanced Budget Rule |Further Results," Discussion Papers 1510, Graduate School of Economics, Kobe University.
    3. Takashi Kamihigashi, 2013. "Ergodic chaos and aggregate stability: A deterministic discrete-choice model of wealth distribution dynamics," International Journal of Economic Theory, The International Society for Economic Theory, vol. 9(1), pages 45-56, March.

    More about this item

    Keywords

    Indivisible labor; Chaos; Complex dynamics.;
    All these keywords.

    JEL classification:

    • C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles

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