Chaos and capacity utilization under increasing returns to scale

被引：2

作者：

Stockman, David R. ^{[1
]}

机构：

[1] Univ Delaware, Dept Econ, Newark, DE 19716 USA

来源：

JOURNAL OF ECONOMIC BEHAVIOR & ORGANIZATION | 2011年 / 77卷 / 02期

关键词：

Variable capacity utilization; Increasing returns to scale; Externality; Indeterminacy; Cycles; Chaos; Euler equation branching; Regime switching; omega-Chaos; Topological entropy;

D O I：

10.1016/j.jebo.2010.10.002

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

It has been shown that adding variable capacity utilization of capital to a one-sector model with a mild production externality can produce local indeterminacy. In this paper. I provide a global analysis of this model and provide sufficient conditions for the existence of Euler equation branching. I show that this branching allows for regime switching equilibria implying omega-chaos and positive topological entropy - two notions of chaotic behavior. (c) 2010 Elsevier B.V. All rights reserved.

引用

页码：147 / 162

页数：16

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