Business Cycles in a Two-Sided Altruism Model

Hiroshi Fujiu
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Hiroshi Fujiu: Department of Economics, Chiba Keizai University, 3-59-5 Todoroki, Inage, Chiba 263-0021, Japan

Mathematics, 2021, vol. 9, issue 17, 1-12

Abstract: This study demonstrates that business cycles with complex periodic fluctuations may arise in an overlapping generations model with two-sided altruism. The structure of an equilibrium dynamical system strongly depends on the degree of altruism in the model. If either altruism of a generation to the parent or the child disappears, the study also demonstrates that complex periodic fluctuations never occur. In this sense, two-sided altruism is essential for a complex business cycle.

Keywords: altruism; equilibrium dynamics; business cycle (search for similar items in EconPapers)
JEL-codes: C (search for similar items in EconPapers)
Date: 2021
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