Multiple attractors and nonlinear dynamics in an overlapping generations model with environment (Q1958768): Difference between revisions

Summary: This paper develops a one-sector productive overlapping generations model with environment where a CES technology is assumed. Relying on numerical and geometrical approaches, various dynamic properties of the proposed model are explored: the existence of the phenomenon of multistability or the coexistence of different attractors was demonstrated. Finally, we describe a nontypical global bifurcation which determines the appearance of an attracting cycle.