Fold Bifurcation Caused by Pollution Emission in an OLG Economy

Cao Dong (), Wang Lin () and Wang Shouyang ()
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Cao Dong: School of Economics and Management, Xidian University, Xi’an710071, China
Wang Lin: Department of Mathematics and Statistics, University of New Brunswick, Fredericton, NB, New Brunswick, Canada
Wang Shouyang: Academy of Mathematics and Systems Science, China Academy of Sciences, Beijing100190, China

Journal of Systems Science and Information, 2017, vol. 5, issue 4, 302-309

Abstract: The purpose of this paper is to investigate the macroeconomic effect of pollution emission in an overlapping generation system. This is done through constructing an endogenous economy which generates pollution and environment deterioration. It shows how different level of pollution emission could cause complexity such as fold bifurcation in this system. In addition, numerical simulations are provided to show the emergency of complexity.

Keywords: nonlinear pollution accumulation; OLG model; multiple equilibria; fold bifurcation (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:bpj:jossai:v:5:y:2017:i:4:p:302-309:n:2

DOI: 10.21078/JSSI-2017-302-08

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