Ergodic chaos in optimal growth models with low discount rates

DOI10.1007/BF01212026zbMath0824.90032OpenAlexW4234784185MaRDI QIDQ1341523

Makoto Yano, Gerhard Sorger, Kazuo Nishimura

Publication date: 5 January 1995

Published in: Economic Theory (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1007/bf01212026

zbMATH Keywords

optimal policy functionsergodic chaosstrictly concave discrete-time optimal growth models

Mathematics Subject Classification ID

Economic growth models (91B62) Strange attractors, chaotic dynamics of systems with hyperbolic behavior (37D45)

Related Items (19)

Dynamical systems arising from infinite time horizon optimization models ⋮ Chaotic dynamical systems: An introduction ⋮ A new turnpike theorem for discounted programs ⋮ DISCRETE CHOICE AND COMPLEX DYNAMICS IN DETERMINISTIC OPTIMIZATION PROBLEMS ⋮ LONG-RUN OPTIMAL BEHAVIOR IN A TWO-SECTOR ROBINSON–SOLOW–SRINIVASAN MODEL ⋮ Optimal growth and cycles in overlapping generations models ⋮ Shilnikov chaos in the Lucas model of endogenous growth ⋮ Homoclinic bifurcation and the Belyakov degeneracy in a variant of the Romer model of endogenous growth ⋮ On the emergence of competitive equilibrium growth cycles ⋮ Infectious diseases and endogenous fluctuations ⋮ Optimality of impulse harvesting policies ⋮ Business cycles and indeterminacy in economic models: a special issue in honor of Professor Kazuo Nishimura ⋮ Chaotic dynamics of a piecewise linear model of credit cycles ⋮ The stochastic turnpike property without uniformity in convex aggregate growth models ⋮ Discounting and long-run behavior: Global bifurcation analysis of a family of dynamical systems ⋮ Optimal Cycles and Chaos: A Survey ⋮ Endogenous Cycles in Competitive Models: An Overview ⋮ Topological entropy of policy functions in concave dynamic optimization models ⋮ A uniform neighborhood turnpike theorem and applications

Cites Work

• Unnamed Item
• Unnamed Item
• Unnamed Item
• Turnpike theory, discounted utility, and the von Neumann facet
• Competitive chaos
• On the indeterminacy of capital accumulation paths
• On the minimum rate of impatience for complicated optimal growth paths
• Business cycles and complex non-linear dynamics
• On optimal steady states of n-sector growth models when utility is discounted
• Global asymptotic stability of optimal control systems with applications to the theory of economic growth
• The structure and stability of competitive dynamical systems
• Minimum impatience theorems for recursive economic models
• Dynamic complexity of optimal paths and discount factors for strongly concave problems
• Periodic and chaotic programs of optimal intertemporal allocation in an aggregative model with wealth effects
• Robust ergodic chaos in discounted dynamic optimization models
• Optimal chaos, nonlinearity and feasibility conditions
• On the Existence of Invariant Measures for Piecewise Monotonic Transformations
• Period Three Implies Chaos
• Turnpike Theory
• Ergodic Transformations from an Interval Into Itself
• Ergodic theory of chaos and strange attractors
• Period Three Implies Heavy Discounting

This page was built for publication: Ergodic chaos in optimal growth models with low discount rates