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Instability and growth due to adjustment costs
1. | University of Vienna, Brünnerstr. 72, 1210 Vienna, Austria, Austria |
References:
[1] |
R. J. Barro and X. Sala-i-Martin, "Economic Growth," Mc Graw Hill, 1995. |
[2] |
J. Benhabib and K. Nishimura, The Hopf bifurcation and the existence and stability of closed orbits in multi-sector models of economic growth, Journal of Economic Theory, 21 (1979), 421-444.
doi: 10.1016/0022-0531(79)90050-4. |
[3] |
E. Dockner, Local stability analysis in optimal control problems with two state variables, in "Optimal Control Theory and Economic Analysis" (ed. G. Feichtinger), Amsterdam, North Holland, 2 (1985), 89-103. |
[4] |
R. A. Easterlin, Income and happiness: towards a unified theory, Economic Journal, 111 (2001), 465-484.
doi: 10.1111/1468-0297.00646. |
[5] |
G. Feichtinger, A.J. Novak and F. Wirl, Limit cycles in intertemporal adjustment models - theory and applications, Journal of Economic Dynamics and Control, 18 (1994), 353-380.
doi: 10.1016/0165-1889(94)90013-2. |
[6] |
J. Guckenheimer and P. Holmes, "Nonlinear Oscillations, Dynamical Systems, and Bifurcation of Vector Fields," (second printing), Springer Verlag, New York, 1986. |
[7] |
F. X. Hof and F. Wirl, Wealth induced multiple equilibria in small open economy versions of the Ramsey model, Homo Oeconomicus, 25 (2008), 1-22. |
[8] |
A. Khibnik, I. Yu, A. Kuznetsov, V. V. Levitin and E. V. Nikolaev, "Interactive Local Bifurcation Analyzer, Manual," Amsterdam, CAN, 1992. |
[9] |
M. Kurz, Optimal economic growth and wealth effects, International Economic Review, 9 (1968), 348-357.
doi: 10.2307/2556231. |
[10] |
R. E. Lucas Jr., On the mechanics of economic development, Journal of Monetary Economics, 22 (1988), 3-42.
doi: 10.1016/0304-3932(88)90168-7. |
[11] |
S. Rebelo, Long run policy analysis and long-run growth, Journal of Political Economy, 99 (1991), 500-521.
doi: 10.1086/261764. |
[12] |
P. Romer, Increasing returns and long-run growth, Journal of Political Economy, 94 (1986), 1002-1037.
doi: 10.1086/261420. |
[13] |
P. Romer, Endogenous technical change, Journal of Political Economy, 98 (1990), 71-101.
doi: 10.1086/261725. |
[14] |
F. Wirl and G. Feichtinger, History dependence in concave economies, Journal of Economic Behavior and Organization, 57 (2005), 390-407.
doi: 10.1016/j.jebo.2005.04.009. |
[15] |
F. Wirl, A. J. Novak and F. X. Hof, Happiness due to consumption and its increases, wealth and status, Studies in Nonlinear Dynamics and Econometrics, 12 (2008). |
show all references
References:
[1] |
R. J. Barro and X. Sala-i-Martin, "Economic Growth," Mc Graw Hill, 1995. |
[2] |
J. Benhabib and K. Nishimura, The Hopf bifurcation and the existence and stability of closed orbits in multi-sector models of economic growth, Journal of Economic Theory, 21 (1979), 421-444.
doi: 10.1016/0022-0531(79)90050-4. |
[3] |
E. Dockner, Local stability analysis in optimal control problems with two state variables, in "Optimal Control Theory and Economic Analysis" (ed. G. Feichtinger), Amsterdam, North Holland, 2 (1985), 89-103. |
[4] |
R. A. Easterlin, Income and happiness: towards a unified theory, Economic Journal, 111 (2001), 465-484.
doi: 10.1111/1468-0297.00646. |
[5] |
G. Feichtinger, A.J. Novak and F. Wirl, Limit cycles in intertemporal adjustment models - theory and applications, Journal of Economic Dynamics and Control, 18 (1994), 353-380.
doi: 10.1016/0165-1889(94)90013-2. |
[6] |
J. Guckenheimer and P. Holmes, "Nonlinear Oscillations, Dynamical Systems, and Bifurcation of Vector Fields," (second printing), Springer Verlag, New York, 1986. |
[7] |
F. X. Hof and F. Wirl, Wealth induced multiple equilibria in small open economy versions of the Ramsey model, Homo Oeconomicus, 25 (2008), 1-22. |
[8] |
A. Khibnik, I. Yu, A. Kuznetsov, V. V. Levitin and E. V. Nikolaev, "Interactive Local Bifurcation Analyzer, Manual," Amsterdam, CAN, 1992. |
[9] |
M. Kurz, Optimal economic growth and wealth effects, International Economic Review, 9 (1968), 348-357.
doi: 10.2307/2556231. |
[10] |
R. E. Lucas Jr., On the mechanics of economic development, Journal of Monetary Economics, 22 (1988), 3-42.
doi: 10.1016/0304-3932(88)90168-7. |
[11] |
S. Rebelo, Long run policy analysis and long-run growth, Journal of Political Economy, 99 (1991), 500-521.
doi: 10.1086/261764. |
[12] |
P. Romer, Increasing returns and long-run growth, Journal of Political Economy, 94 (1986), 1002-1037.
doi: 10.1086/261420. |
[13] |
P. Romer, Endogenous technical change, Journal of Political Economy, 98 (1990), 71-101.
doi: 10.1086/261725. |
[14] |
F. Wirl and G. Feichtinger, History dependence in concave economies, Journal of Economic Behavior and Organization, 57 (2005), 390-407.
doi: 10.1016/j.jebo.2005.04.009. |
[15] |
F. Wirl, A. J. Novak and F. X. Hof, Happiness due to consumption and its increases, wealth and status, Studies in Nonlinear Dynamics and Econometrics, 12 (2008). |
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