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EnglishThis paper considers an endogenous growth model that belongs to the same family as the Lucas model. In the Lucas model an external effect appears in the physical-goods sector, whereas in our model, it appears in the educational sector. In our model, this external effect yields multiple balanced growth paths. Our model undergoes a homoclinic bifurcation and exhibits global indeterminacy of equilibrium.
A homoclinic bifurcation and global indeterminacy of equilibrium in a two-sector endogneous growth model / Mattana P; Nishimura K; Shigoka T. - In: INTERNATIONAL JOURNAL OF ECONOMIC THEORY. - ISSN 1742-7355. - 5:1(2009), pp. 25-47.
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| Titolo: | A homoclinic bifurcation and global indeterminacy of equilibrium in a two-sector endogneous growth model |
| Autori: | |
| Data di pubblicazione: | 2009 |
| Rivista: | |
| Citazione: | A homoclinic bifurcation and global indeterminacy of equilibrium in a two-sector endogneous growth model / Mattana P; Nishimura K; Shigoka T. - In: INTERNATIONAL JOURNAL OF ECONOMIC THEORY. - ISSN 1742-7355. - 5:1(2009), pp. 25-47. |
| Abstract: | This paper considers an endogenous growth model that belongs to the same family as the Lucas model. In the Lucas model an external effect appears in the physical-goods sector, whereas in our model, it appears in the educational sector. In our model, this external effect yields multiple balanced growth paths. Our model undergoes a homoclinic bifurcation and exhibits global indeterminacy of equilibrium. |
| Handle: | http://hdl.handle.net/11584/17368 |
| Tipologia: | 1.1 Articolo in rivista |
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