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Endogenous cycles in discontinuous growth models

✍ Scribed by Fabio Tramontana; Laura Gardini; Anna Agliari

Publisher: Elsevier Science
Year: 2011
Tongue: English
Weight: 616 KB
Volume: 81
Category: Article
ISSN: 0378-4754
DOI: 10.1016/j.matcom.2010.12.002

No coin nor oath required. For personal study only.

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## Abstract The local stability of balanced paths in endogenous growth models is investigated. Under the fulfillment of transversality conditions, a general instability result is established. It has been proved that models with one state variable are completely unstable, whereas two alternatives ar