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Environmental Abatement and the Macroeconomy in the Presence of Ecological Thresholds
Heijdra, Ben; Heijnen, Pim - In: Environmental & Resource Economics 55 (2013) 1, pp. 47-70
We study the environmental and economic effects of public abatement in the presence of multiple stable steady-state ecological equilibria featuring reversible hysteresis. The isocline for the stock of pollution possesses two stable branches. Assuming that the ecology is initially located on the...
Persistent link: https://www.econbiz.de/10010987557
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Stabilizing Endogenous Fluctuations with Fiscal Policies: Global Analysis on Piecewise Continuous Dynamical Systems
Augeraud-Veron, E.; Augier, L. - In: Studies in Nonlinear Dynamics & Econometrics 5 (2001) 1, pp. 75-86
This paper considers a one-sector overlapping-generations model with production. We observe that under standard assumptions on preferences and technology, the perfect-foresight equilibrium violates positivity constraints for large sets of initial conditions. The consideration of the positivity...
Persistent link: https://www.econbiz.de/10005579848
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Stabilizing Endogenous Fluctuations with Fiscal Policies: Global Analysis on Piecewise Continuous Dynamical Systems
Augeraud-Veron, E.; Augier, L. - In: Studies in Nonlinear Dynamics & Econometrics 5 (2007) 1, pp. 75-86
This paper considers a one-sector overlapping-generations model with production. We observe that under standard assumptions on preferences and technology, the perfect-foresight equilibrium violates positivity constraints for large sets of initial conditions. The consideration of the positivity...
Persistent link: https://www.econbiz.de/10004966186
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Money, Tobin Effect, and Incerasing Returns
Basci, Erdem; Erdogan, Ayse M.; Saglam, Ismail - Volkswirtschaftliche Fakultät, … - 2006
This paper shows that unregulated decentralized equilibrium is viable under increasing returns technologies in an overlapping generations model of production with cash-in-advance constraints. We also demonstrate that the model exhibits both the Tobin effect and the reverse Tobin effect.
Persistent link: https://www.econbiz.de/10005836089
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Legal Institutions, Sectoral Heterogeneity, and Economic Development
CASTRO, Rui; CLEMENTI, Gian Luca; MACDONALD, Glenn - Centre Interuniversitaire de Recherche en Économie … - 2009
Poor countries have lower PPP–adjusted investment rates and face higher relative prices of investment goods. It has been suggested that this happens either because these countries have a relatively lower TFP in industries producing capital goods, or because they are subject to greater...
Persistent link: https://www.econbiz.de/10008617049
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Legal Institutions, Sectoral Heterogeneity, and Economic Development
CASTRO, Rui; CLEMENTI, Gian Luca; MACDONALD, Glenn - Département de Sciences Économiques, Université de … - 2009
Poor countries have lower PPP–adjusted investment rates and face higher relative prices of investment goods. It has been suggested that this happens either because these countries have a relatively lower TFP in industries producing capital goods, or because they are subject to greater...
Persistent link: https://www.econbiz.de/10008679134
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An Interview with Paul A. Samuelson
Barnett, William - Department of Economics, University of Kansas - 2004
) that it could be particularly difficult to identify those areas of modern economic theory to which he has not made seminal … theory, which has since become legendary. An unconfirmed anecdote has it that at the end of Samuelson's dissertation defense … be listed here? being among the most prolific writers in economics. Samuelson's signature method of economic theory …
Persistent link: https://www.econbiz.de/10005115543
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A reappraisal of the inflation-unemployment tradeoff.
Karanassou, Marika; Sala, Héctor; Snower, Dennis J. - Kiel Institute for the World Economy - 2005
effects. Although our theory contains no money illusion, no permanent nominal rigidities, and no departure from rational …
Persistent link: https://www.econbiz.de/10008520206
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Nonlinear Noise Estimation in International Capital Markets
Siriopoulos, Costas; Leontitsis, Alexandros - In: Multinational Finance Journal 6 (2002) 1, pp. 43-63
We analyzed six stock exchange markets through the nonlinear dynamics concept. We used daily data from the Toronto Stock Exchange, NYSE, London Stock Exchange, Hong Kong Stock Market, Tokyo Stock Exchange, and the Singapore Stock Exchange. The period studied is from January 1, 1988 to June 30,...
Persistent link: https://www.econbiz.de/10010937112
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Nonlinear Dynamics, Chaos, and Instability - Unix version
Brock, William A.; Hsieh, David A.; LeBaron, Blake - The MIT Press
Chaos theory has touched on such fields as biology, cognitive science, and physics. By providing a unified and complete … principles of chaos theory can be applied to such areas of economics and finance as the changing structure of stock returns and …
Persistent link: https://www.econbiz.de/10004972994