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A platform for research: civil engineering, architecture and urbanism
Endogenous population growth may imply chaos
Abstract We consider a discrete-time neoclassical growth model with an endogenous rate of population growth. The resulting one-dimensional map for the capital intensity has a tilted z-shape. Using the theory of nonlinear dynamical systems, we obtain numerical results on the qualitative behaviour of time paths for changing parameter values. Besides stable and periodic solutions, erratic time paths may result. In particular, myopic and far-sighted economies — assumed to be characterised by low and high savings rate respectively — are characterised by stable per capita capital stocks, while solutions with chaotic windows exist between these two extremes.
Endogenous population growth may imply chaos
Abstract We consider a discrete-time neoclassical growth model with an endogenous rate of population growth. The resulting one-dimensional map for the capital intensity has a tilted z-shape. Using the theory of nonlinear dynamical systems, we obtain numerical results on the qualitative behaviour of time paths for changing parameter values. Besides stable and periodic solutions, erratic time paths may result. In particular, myopic and far-sighted economies — assumed to be characterised by low and high savings rate respectively — are characterised by stable per capita capital stocks, while solutions with chaotic windows exist between these two extremes.
Endogenous population growth may imply chaos
Prskawetz, Alexia (author) / Feichtinger, Gustav (author)
1995
Article (Journal)
English
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