Engodenous Fluctuations in an OLG Model with Production

Laurence Lasselle and W Briec

CRIEFF Discussion Papers from Centre for Research into Industry, Enterprise, Finance and the Firm

Abstract: We examine the OLG model of Reichlin (1986). By using the Helleman's method (1980), we show that the difference equation of the model can be locally studied from the Feigenbaum equation. We can then explain the existence of endogenous fluctuations acording to the productivity level and the coefficient of risk aversion. These fluctuations take the form of a period doubling bifurcation.

Keywords: risk aversion; Feigenbaum equation; two-dimensional maps; renormalization (search for similar items in EconPapers)
JEL-codes: C60 E32 (search for similar items in EconPapers)
Date: 1997-10
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Persistent link: https://EconPapers.repec.org/RePEc:san:crieff:9726

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