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- W2910362830 abstract "In this study, we develop a simple, computable overlapping generations model that exhibits endogenous fluctuations. The key assumption is that a firm can choose from multiple technologies of production. Since the model reduces to a piecewise linear map on the unit interval, it allows us to conduct an in-depth analysis of its dynamic properties. Particularly, this piecewise linearization reveals the ability of the model to exhibit periodic attracting cycles of an arbitrarily large period as well as non-periodic attractors. Furthermore, it is demonstrated that the occurrence of periodic patterns is completely characterized by the rotation number or the “devil’s staircase.”" @default.
- W2910362830 created "2019-01-25" @default.
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- W2910362830 date "2019-03-01" @default.
- W2910362830 modified "2023-09-27" @default.
- W2910362830 title "A simple model of growth cycles with technology choice" @default.
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- W2910362830 doi "https://doi.org/10.1016/j.jedc.2018.11.006" @default.
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