Dynamic investigations of an endogenous business cycle model with heterogeneous agents

Spiros Bougheas, Pasquale Commendatore, Laura Gardini and Ingrid Kubin

No 2023/02, Discussion Papers from University of Nottingham, Centre for Finance, Credit and Macroeconomics (CFCM)

Abstract: We introduce agents heterogeneity into a model of endogenous business cycles, in which agents can invest either in "good" projects that contribute to future capital formation, or in "bad" projects without that property. The resulting map involves three distinct regimes, two of which we linearize. Using theoretical results on piecewise linear systems and on border collision bifurcations we are able to provide a comprehensive analysis of the dynamicsKeywords: business cycles, heterogeneous agents, piecewise linear systems, bufurcations

Date: 2023
New Economics Papers: this item is included in nep-ppm
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https://www.nottingham.ac.uk/cfcm/documents/papers/2023/23-02.pdf (application/pdf)

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Journal Article: Dynamic Investigations of an Endogenous Business Cycle Model with Heterogeneous Agents (2025)
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Persistent link: https://EconPapers.repec.org/RePEc:not:notcfc:2023/02

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