Gori Luca, Sodini Mauro
Department of Law, University of Genoa, Via Balbi, 30/19, I-16126 Genoa (GE), Italy.
Department of Economics and Management, University of Pisa, Via Cosimo Ridolfi, 10, I-56124 Pisa (PI), Italy.
Chaos. 2014 Mar;24(1):013122. doi: 10.1063/1.4865787.
This paper analyses the mathematical properties of an economic growth model with overlapping generations, endogenous labour supply, and multiplicative external habits. The dynamics of the economy is characterised by a two-dimensional map describing the time evolution of capital and labour supply. We show that if the relative importance of external habits in the utility function is sufficiently high, multiple (determinate or indeterminate) fixed points and poverty traps can exist. In addition, periodic or quasiperiodic behaviour and/or coexistence of attractors may occur.
本文分析了一个具有世代交叠、内生劳动力供给和乘法外部习惯的经济增长模型的数学性质。经济动态由一个描述资本和劳动力供给时间演化的二维映射来刻画。我们表明，如果效用函数中外部习惯的相对重要性足够高，可能存在多个（确定的或不确定的）不动点和贫困陷阱。此外，可能会出现周期性或准周期性行为和/或吸引子共存的情况。
