Homoclinic bifurcation and global indeterminacy of equilibrium in a two-sector endogenous growth model

被引：28

作者：

Mattana, Paolo ^{[1
]}

Nishimura, Kazuo ^{[2
]}

Shigoka, Tadashi ^{[2
]}

机构：

[1] Univ Cagliari, Dept Econ, Cagliari, Italy

[2] Kyoto Univ, Inst Econ Res, Kyoto, Japan

来源：

INTERNATIONAL JOURNAL OF ECONOMIC THEORY | 2009年 / 5卷 / 01期

关键词：

endogenous growth; multiple balanced growth paths; homoclinic bifurcation; global indeterminacy of equilibrium; C62; E32; O41; TRANSITIONAL DYNAMICS;

D O I：

10.1111/j.1742-7363.2008.00093.x

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

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.

引用

页码：25 / 47

页数：23

共 15 条

[1] UNIQUENESS AND INDETERMINACY - ON THE DYNAMICS OF ENDOGENOUS GROWTH [J].