Showing 1 - 10 of 251
presence of indeterminacy, sunspot equilibria can exist. I study the stability of the trap, subject to continuous-time sunspot …
Persistent link: https://www.econbiz.de/10005126454
In standard economic growth theory it is usually assumed that labor force follows exponential growth. That is not a realistic assumption. In this paper we introduce a generalized logistic equation (Richards law) that describes more accurately population growth. Then we analyze the neoclassical...
Persistent link: https://www.econbiz.de/10005125626
The Solow growth model assumes that labor force grows exponentially. This is not a realistic assumption because, exponential growth implies that population increases to infinity as time tends to infinity. In this paper we propose replacing the exponential population growth with a simple and more...
Persistent link: https://www.econbiz.de/10005062753
The "linearity critique" of endogenous growth models is presented in a general context of an arbitrary growth model and reassessed. It is argued, that presence of linearities is not a valid criterion for rejecting growth models. Existence of exponential/geometrical steady- state growth (i.e. of...
Persistent link: https://www.econbiz.de/10005408263
This work is focused on identifying the relationship an economic system and its policies have with the environment. The biosphere is chosen in particular as object of analysis but this can be extended by means of an ecosystem recursive properties. The common factor involved in the relationship...
Persistent link: https://www.econbiz.de/10005062749
Theoretical study identifying one modality with conditions necesary for the financial stabilization of an inherently unstable system; and 5040 other unstable dynamic modes. It draws on knowledge made available by the academic field of Control Engineering.
Persistent link: https://www.econbiz.de/10005125628
This work is focused on identifying a circular pull production control system (PPCS) and make emphasis on the presence of a stability attribute. It is an introductory paper to an extended study of macroeconomic financial stability in a physically open but systemic closed system. Previous work...
Persistent link: https://www.econbiz.de/10005126234
simulations from a purely forward-looking model, this paper shows that indeterminacy can introduce a sizable persistence in the … self full-filling expectations. By neglecting indeterminacy the estimates of the forward- looking term of the Phillips …
Persistent link: https://www.econbiz.de/10005126312
The paper deals with the application of Minimum Weighted Residual Methods (MWR) in intertemporal optimizing models of endogenous economic growth. In the 1st part of the paper the basics of the MWR method are described. Attention is mainly concentrated on one special class of MWR methods: the...
Persistent link: https://www.econbiz.de/10005407729
In this paper we extend the results of recent studies on the existence of equilibrium in finite dimensional asset markets for both bounded and unbounded economies. We do not assume that the individual's preferences are complete or transitive. Our existence theorems for asset markets allow for...
Persistent link: https://www.econbiz.de/10005125612