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DP1070.pdf | 1.37 MB | Adobe PDF | 見る/開く |
タイトル: | Quasi-Periodic Motions in a Polarized Overlapping Generations Model with Technology Choice |
著者: | Asano, Takao Shibata, Akihisa Yokoo, Masanori |
キーワード: | Endogenous business cycles technology choice quasi-periodic motion OLG model rotation number |
発行日: | Nov-2021 |
出版者: | Institute of Economic Research, Kyoto University |
誌名: | KIER Discussion Paper |
巻: | 1070 |
開始ページ: | 1 |
終了ページ: | 43 |
抄録: | This paper constructs a simple overlapping generations (OLG) model with the working and capitalist classes and two types of production technologies. The behavior of agents belonging to the working class is basically the same as that in the standard Diamond (1965) type OLG model, whereas agents belonging to the capitalist class face two available technologies, select the one with a higher return on capital, and bequeath their assets to the next generation with- out supplying labor. Using techniques concerning the circle map in dynamical systems theory, we show that in an extreme case in which one technology is linear and the other is of the Leontief type, the economy exhibits bounded, non-periodic but non-chaotic motions for a large set of parameter values. We provide explicit formulas for the rotation number and the absolutely continuous invariant probability measure of our model. |
記述: | This paper was previously circulated under the title “Polarization and Permanent Fluctuations: Quasi-Periodic Motions in a Two-Class OLG Model.” |
URI: | http://hdl.handle.net/2433/269663 |
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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