Differential savings, factor shares, and endogenous growth cycles

Böhm V, Kaas L (2000)
JOURNAL OF ECONOMIC DYNAMICS AND CONTROL 24(5-7): 965-980.

Zeitschriftenaufsatz | Veröffentlicht | Englisch
 
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Abstract / Bemerkung
The paper analyzes the dynamic properties of the neoclassical one-sector growth model with differential savings in the sense of Kaldor-Pasinetti. The economy exhibits unstable steady states and fluctuations if the income distribution varies sufficiently and if shareholders save more than workers. The paper analyzes in detail the dynamics for the case with a fixed proportions technology as well as with a smooth approximation. If the savings propensities differ by an arbitrarily small amount, the system exhibits topological chaos in the sense of Li and Yorke for an open set of production functions. The analytical results are supplemented by numerical experiments. (C) 2000 Elsevier Science B.V. All rights reserved. JEL classification: E25; E32; O40.
Stichworte
business cycles; growth; income distribution
Erscheinungsjahr
2000
Zeitschriftentitel
JOURNAL OF ECONOMIC DYNAMICS AND CONTROL
Band
24
Ausgabe
5-7
Seite(n)
965-980
ISSN
0165-1889
Page URI
https://pub.uni-bielefeld.de/record/1620422

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Böhm V, Kaas L. Differential savings, factor shares, and endogenous growth cycles. JOURNAL OF ECONOMIC DYNAMICS AND CONTROL. 2000;24(5-7):965-980.
Böhm, V., & Kaas, L. (2000). Differential savings, factor shares, and endogenous growth cycles. JOURNAL OF ECONOMIC DYNAMICS AND CONTROL, 24(5-7), 965-980. doi:10.1016/S0165-1889(99)00032-9
Böhm, V., and Kaas, L. (2000). Differential savings, factor shares, and endogenous growth cycles. JOURNAL OF ECONOMIC DYNAMICS AND CONTROL 24, 965-980.
Böhm, V., & Kaas, L., 2000. Differential savings, factor shares, and endogenous growth cycles. JOURNAL OF ECONOMIC DYNAMICS AND CONTROL, 24(5-7), p 965-980.
V. Böhm and L. Kaas, “Differential savings, factor shares, and endogenous growth cycles”, JOURNAL OF ECONOMIC DYNAMICS AND CONTROL, vol. 24, 2000, pp. 965-980.
Böhm, V., Kaas, L.: Differential savings, factor shares, and endogenous growth cycles. JOURNAL OF ECONOMIC DYNAMICS AND CONTROL. 24, 965-980 (2000).
Böhm, Volker, and Kaas, L. “Differential savings, factor shares, and endogenous growth cycles”. JOURNAL OF ECONOMIC DYNAMICS AND CONTROL 24.5-7 (2000): 965-980.