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タイトル: | Two-Dimensional Constrained Chaos and Industrial Revolution Cycles with Mathemetical Appendices |
著者: | Yano, Makoto Furukawa, Yuichi |
キーワード: | industrial revolutions chaotic cycles intellectual properties market quality dynamics C62 E32 O41 |
発行日: | 22-Mar-2021 |
出版者: | Institute of Economic Research, Kyoto University |
誌名: | KIER Discussion Paper |
巻: | 1057 |
開始ページ: | 1 |
終了ページ: | 22 |
抄録: | Between the 1760s and 1980s, we have experienced at least three industrial revolutions. We explain such cycles as ergodic chaos and relate it to the average long-run interest rate and intellectual property protection. Because innovation dynamics is intrinsically multi-dimensional, we need newly to develop a structural characterization of multi-dimensional ergodic chaos suitable for an economic analysis. Introducing such a characterization for the two-dimensional case, we show that if the monopolistic use of a new invention lasts eight years, an industrial-revolution-like burst of new technologies recurs about every one hundred years, given empirically reasonable values of the determinants of a long-run interest rate. |
URI: | http://hdl.handle.net/2433/269650 |
関連リンク: | https://www.kier.kyoto-u.ac.jp/publication/?cat=en |
出現コレクション: | KIER Discussion Paper (英文版) |
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