A model of growth with inherited tastes View Full Text


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Article Info

DATE

2018-11

AUTHORS

Luciano Fanti, Luca Gori, Cristiana Mammana, Elisabetta Michetti

ABSTRACT

This research aims at studying a general equilibrium closed economy with overlapping generations and inherited tastes (aspirations), as in de la Croix (Econ Lett 53(1):89–96, 1996). It shows that the interaction between the intensity of aspirations and the elasticity of substitution of effective consumption affects the qualitative and quantitative long-term dynamics from both local and global perspectives. The related literature is extended by showing that (1) the Neimark–Sacker bifurcation found by de la Croix (1996) does not necessarily give rise to fluctuations and (2) endogenous (long-lasting) fluctuations occur through the emergence of period-doubling bifurcations. More... »

PAGES

1-24

References to SciGraph publications

Identifiers

URI

http://scigraph.springernature.com/pub.10.1007/s10203-018-0221-4

DOI

http://dx.doi.org/10.1007/s10203-018-0221-4

DIMENSIONS

https://app.dimensions.ai/details/publication/pub.1110104099


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