Cecchetti et al. (2006) develop a method for allocating macroeconomic performance changes among the structure of the economy, variability of supply shocks and monetary policy. We propose a dual approach of their method by borrowing well-known tools from production theory, namely the Farrell...

The renormalization procedure facilitates the detection of periodic and chaotic patterns of many two-dimensional systems of nonlinear equations. We first give a comprehensive presentation of this procedure. We then generalize it to make it more applicable to economic frameworks. Copyright...

We examine the OLG model of Reichlin (1986). By using the Helleman's method (1980), we show that the difference equation of the model can be locally studied from the Feigenbaum equation. We can then explain the existence of endogenous fluctuations acording to the productivity level and the...

We consider a simple model of innovation where equilibrium cycles may arise and show that, whenever actual capital accumulation falls below its balanced growth path, subsidizing innovators by taxing consumers has stabilizing effects, promotes sustained growth and increases welfare. Further, if...