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Mukherji, Anjan - 2003

The stability of cyclical growth within the context of a model in Matsuyama (1999) is examined. It is shown that but … for an extreme situation, the two-cycles are unique and a range of parameter values which imply the stability of such …

Persistent link: https://www.econbiz.de/10014076807

Stationary Markovian Equilibrium in Overlapping Generation Models with Stochastic Nonclassical Production

Morand, Olivier; Reffett, Kevin L. - Department of Economics, University of Connecticut - 2005

stability of Markovian equilibrium decision processes for a large class of OLG models with stochastic nonclassical production …. Our notion of stability is existence of stationary Markovian equilibrium. With a nonclassical production, our economies …

Persistent link: https://www.econbiz.de/10005839017

Isotone Recursive Methods for Overlapping Generation Models with Stochastic Nonclassical Production

Morand, Olivier; Erikson, Jaime; Reffett, Kevin L. - Department of Economics, University of Connecticut - 2005

Based on an order-theoretic approach, we derive sufficient conditions for the existence, characterization, and computation of Markovian equilibrium decision processes and stationary Markov equilibrium on minimal state spaces for a large class of stochastic overlapping generations models. In...

Persistent link: https://www.econbiz.de/10005746072

Multiple Interior Steady States in the Ramsey Model with Elastic Labor Supply

Kamihigashi, Takashi - Research Institute for Economics and Business … - 2014

In this paper we show that multiple interior steady states are possible in the Ramsey model with elastic labor supply. In particular we establish the following three results: (i) for any discount factor and production function, there is a utility function such that a continuum of interior steady...

Persistent link: https://www.econbiz.de/10010822751

Non-Existence of Steady State Equilibrium in the Neoclassical Growth Model with a Longevity Trend

Hermansen, Mikkel Nørlem - School of Economics and Management, University of Aarhus - 2011

Longevity has been increasing in the developed countries for almost two centuries and further increases are expected in the future. In the neoclassical growth models the case of population growth driven by fertility is well-known, whereas the properties of population growth caused by...

Persistent link: https://www.econbiz.de/10009003123

Existence of competitive equilibrium in a single-sector growth model with heterogeneous agents and endogenous leisure.

Van, Cuong Le; Nguyen, Manh Hung - Maison des Sciences Économiques, Université Paris 1 … - 2005

We prove the existence of competitive equilibrium in a single-sector dynamic economy with heterogeneous agents and elastic labor supply. The method of proof relies on exploiting the existence of Lagrange multipliers in infinite dimensional spaces and the link between Pareto-optima and...

Persistent link: https://www.econbiz.de/10005670979

Cryptocurrencies : A Legal Regulatory System

Di Pietro, Massimiliano - 2021

Abstract. A system that allows you to easily regulate the cryptocurrency market and influence it thanks to the classification given by their scalability. The opportunity to be included in a different table will push programmers to adapt to the legislation. It will no longer be the right to have...

Persistent link: https://www.econbiz.de/10013235796

Wage bargaining, employment, and union power: The right-to-manage approach

Böhm, Volker; Claas, Oliver - 2014

This paper analyzes the implications of right-to-manage wage bargaining between a producers' syndicate and a workers' union representing finite numbers of identical members in a monetary macroeconomic model of the AS-AD type with government activity. At given prices and price expectations,...

Persistent link: https://www.econbiz.de/10010352836

Wage bargaining, employment, and union power : the right-to-manage approach

Böhm, Volker; Claas, Oliver - 2014

Persistent link: https://www.econbiz.de/10010239909

Keynesian Dynamics and the Wage-Price Spiral:Estimating and Analyzing a Baseline Disequilibrium Approach

Semmler, W.; Chen, P.; Chiarella, C. - Society for Computational Economics - SCE - 2005

both staggered prices and wages. It exhibits typical Keynesian feedback structures with asymptotic stability of its steady … state for low adjustment speeds and with cyclical loss of stability -- by way of Hopf bifurcations -- when certain … order to study its stability features based on empirical parameter estimates with respect to its various feedback channels …

Persistent link: https://www.econbiz.de/10005132651