On Topological Chaos in the Robinson-Solow-Srinivasan Model

M. Khan and Tapan Mitra

Working Papers from Cornell University, Center for Analytic Economics

Abstract: In this paper, we offer an instance of (topologically) chaotic optimal behavior in a twosector model with irreversible investment, originally formulated by Robinson, Solow and Srinivasan. Our result follows from the theory of turbulence in non-linear dynamical systems, and relies only on the existence of a continuous optimal policy function. The fact that there is a unique optimal program from each initial stock when future utilities are discounted by a factor smaller than the labor-capital ratio may be of independent interest.

JEL-codes: C62 D90 O21 (search for similar items in EconPapers)
Date: 2004-12
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https://cae.economics.cornell.edu/04-18.pdf

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Journal Article: On topological chaos in the Robinson-Solow-Srinivasan model (2005)
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Persistent link: https://EconPapers.repec.org/RePEc:ecl:corcae:04-18

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