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Chaotic Equilibria in a Small Open Overlapping Generations Economy with Child-Parent Externality

Author

Listed:
  • Kazuo Nishimura

    (Kyoto Institute of Economic Research (KIER), Kyoto University, Japan)

  • Koji Shimomura

    (Research Institute for Economics & Business Administration (RIEB), Kobe University, Japan)

Abstract

This paper presents a simple overlapping generations model of small open economy with child-parent externality that exhibits chaotic equilibrium dynamics.

Suggested Citation

  • Kazuo Nishimura & Koji Shimomura, 1997. "Chaotic Equilibria in a Small Open Overlapping Generations Economy with Child-Parent Externality," Discussion Paper Series 87, Research Institute for Economics & Business Administration, Kobe University.
  • Handle: RePEc:kob:dpaper:87
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    References listed on IDEAS

    as
    1. Kevin M. Murphy & Andrei Shleifer & Robert W. Vishny, 1991. "The Allocation of Talent: Implications for Growth," The Quarterly Journal of Economics, Oxford University Press, vol. 106(2), pages 503-530.
    2. Binh Tran-Nam & Công Truong & Pierre Tu, 1995. "Human capital and economic growth in an overlapping generations model," Journal of Economics, Springer, vol. 61(2), pages 147-173, June.
    3. Kemp, Murray C. & Van Long, Ngo, 1986. "Education, overlapping generations, and the existence of equilibrium," Economics Letters, Elsevier, vol. 22(1), pages 91-95.
    4. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
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    More about this item

    Keywords

    Externalities; Generations;

    JEL classification:

    • D62 - Microeconomics - - Welfare Economics - - - Externalities
    • J13 - Labor and Demographic Economics - - Demographic Economics - - - Fertility; Family Planning; Child Care; Children; Youth

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