Nonlinear Dynamics in an OLG Growth Model with Young and Old Age Labour Supply: The Role of Public Health Expenditure

被引：10
|
作者：
Gori, Luca [1 ]
Sodini, Mauro [2 ]
机构：
[1] Univ Genoa, Dept Law & Econ GLM Casaregi, I-16126 Genoa, Italy
[2] Univ Pisa, Dept Stat & Math Appl Econ, I-56124 Pisa, Italy
来源：
COMPUTATIONAL ECONOMICS | 2011年 / 38卷 / 03期
关键词：
Chaos; Labour supply; OLG model; Public health expenditure; OVERLAPPING GENERATIONS MODEL; ENDOGENOUS BUSINESS CYCLES; INCREASING RETURNS; ECONOMIC-GROWTH; SOCIAL-SECURITY; FLUCTUATIONS; EQUILIBRIUM; RETIREMENT; FERTILITY; LEISURE;
D O I：
10.1007/s10614-011-9283-x
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This study analyses the dynamics of a two-dimensional overlapping generations economy with young and old age labour supply. We show that the public provision of investments in health, which, in turn, affects the demand for material consumption of the old-aged, may represent a source of local indeterminacy, nonlinear dynamics and multiplicity of equilibria. Moreover, global indeterminacy may also occur because of the co-existence either of two saddles or two attractors with complex basins of attraction.
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页码：261 / 275
页数：15
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