Engodenous Fluctuations in an OLG Model with Production
We 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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|Date of creation:||Oct 1997|
|Date of revision:|
|Contact details of provider:|| Postal: School of Economics and Finance, University of St. Andrews, Fife KY16 9AL|
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