Uncertain Endowments and Economic Cycles

Jean-Pierre Aubin
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Jean-Pierre Aubin: VIMADES (Viabilité, Marchés, Automatique et Décision)

Chapter Chapter 4 in Time and Money, 2014, pp 57-66 from Springer

Abstract: Abstract This chapter concerns the case when the functions l(t) (simple interests) or the rate of returns m(t) (compound interests) are no longer given, as in Chap. 3 , p. 47, but are themselves solutions to a viability problem requiring that the endowment evolves between a lower viability threshold k (for the agent) and upper scarcity threshold c (for the provider), assumed to be constant for the simplicity of the exposition:

Keywords: Interest Rate; Cyclic Evolution; Viability Kernel; Titanic Effect; Constant Interest Rate (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:spr:lnechp:978-3-319-00005-3_4

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DOI: 10.1007/978-3-319-00005-3_4

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