Equilibrium cycling with small discounting

DOI10.1016/0022-0531(90)90040-QzbMATH Open0722.90013MaRDI QIDQ757217FDOQ757217

Authors: Jess Benhabib, Aldo Rustichini 

Publication date: 1990

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

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zbMATH Keywords

Hopf bifurcationPontryagin maximum principleoptimal growthCobb-Douglas three sector technology

Mathematics Subject Classification ID

Bifurcation theory for ordinary differential equations (34C23) Economic growth models (91B62)

Cites Work

• Title not available (Why is that?)
• Singularities and groups in bifurcation theory. Volume I
• Competitive equilibrium cycles
• On the indeterminacy of capital accumulation paths
• Title not available (Why is that?)
• Global asymptotic stability of optimal control systems with applications to the theory of economic growth
• Hopf bifurcation for functional differential equations of mixed type
• A characterization of Ramsey equilibrium
• Stability of Separable Hamiltonians and Investment Theory
• The structure and stability of competitive dynamical systems
• The Hopf bifurcation and the existence and stability of closed orbits in multisector models of optimal economic growth

Cited In (22)

• Limit cycles in intertemporal adjustment models. Theory and applications
• Pathways to Hopf bifurcations in dynamic continuous-time optimization problems
• Limit cycles in intertemporal adjustment models
• Endogenous cycles with small discounting in multisector optimal growth models: Continuous-time case
• Stability and limit cycles in competitive equilibria subject to adjustment costs and dynamic spillovers.
• Turnpike theory. Some new results on the saddle point property of equilibria and on the existence of endogenous cycles
• Endogenous cycles in discrete symmetric multisector optimal growth models
• Cyclical fluctuations in continuous time dynamic optimization models: survey of general theory and an application to dynamic limit pricing
• INDETERMINACY AND THE ROLE OF FACTOR SUBSTITUTABILITY
• Optimal growth and cycles in overlapping generations models
• Indeterminacy and cycles in two-sector discrete-time model
• Endogenous Cycles in Competitive Models: An Overview
• Competitive equilibrium cycles for small discounting in discrete-time two-sector optimal growth models
• The Ramsey model revisited: The optimality of cyclical consumption and growth
• Study of irregular dynamics in an economic model: attractor localization and Lyapunov exponents
• Optimal Cycles and Chaos: A Survey
• Complicated dynamics and parametric restrictions in the Robinson-Solow-Srinivasan (RSS) model
• Saddle-point dynamics in non-autonomous models of multisector growth with variable returns to scale
• Strong concavity properties of indirect utility functions in multisector optimal growth models
• A turnpike theorem for continuous-time optimal-control models
• Competitive equilibrium cycles with endogenous labor
• On the minimum rate of impatience for complicated optimal growth paths

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