Nonlinear dynamics in an OLG growth model with young and old age labour supply: the role of public health expenditure

Luca Gori () and Mauro Sodini

MPRA Paper from University Library of Munich, Germany

Abstract: This paper analyses the dynamics of a two-dimensional overlapping generations model with young and old age labour supply. It is shown that the public provision of health investments, which, in turn, affects the demand for material consumption, may represent a source of local indeterminacy, nonlinear dynamics and multiplicity of equilibria. Furthermore, global indeterminacy may also occur because of the co-existence of two attractors with tangled basins of attraction.

Keywords: Chaos; Labour supply; OLG model; Public health expenditure (search for similar items in EconPapers)
JEL-codes: C62 C68 I18 J22 O41 (search for similar items in EconPapers)
Date: 2011-01-17
New Economics Papers: this item is included in nep-age, nep-dge and nep-hea
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

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Related works:
Journal Article: Nonlinear Dynamics in an OLG Growth Model with Young and Old Age Labour Supply: The Role of Public Health Expenditure (2011)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:28180

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