Erratic accumulation

Jess Benhabib; Richard H. Day

doi:10.1016/0165-1765(80)90067-1

Erratic accumulation

Jess Benhabib, Richard H. Day

Research output: Contribution to journal › Article › peer-review

Abstract

We study a simple, deterministic overlapping-generations model with capital accumulation where the discount rate of each generation is positively related to its lifetime wealth. We show that the trajectories for the capital stock can be periodic of arbitrary high order or totally aperiodic and chaotic and even ergodic.

Original language	English (US)
Pages (from-to)	113-117
Number of pages	5
Journal	Economics Letters
Volume	6
Issue number	2
DOIs	https://doi.org/10.1016/0165-1765(80)90067-1
State	Published - 1980

ASJC Scopus subject areas

Finance
Economics and Econometrics

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10.1016/0165-1765(80)90067-1

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abstract = "We study a simple, deterministic overlapping-generations model with capital accumulation where the discount rate of each generation is positively related to its lifetime wealth. We show that the trajectories for the capital stock can be periodic of arbitrary high order or totally aperiodic and chaotic and even ergodic.",

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Erratic accumulation

Abstract

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