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Two-period cycles in a three-period overlapping generations model

✍ Scribed by Joydeep Bhattacharya; Steven Russell


Book ID
114047378
Publisher
Elsevier Science
Year
2003
Tongue
English
Weight
244 KB
Volume
109
Category
Article
ISSN
0022-0531

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✍ Masanori Yokoo πŸ“‚ Article πŸ“… 2000 πŸ› Elsevier Science 🌐 English βš– 540 KB

This paper investigates the global dynamics of a two-dimensional Diamond-type overlapping generations model extended to allow for government intervention. Using a singular perturbation method, we identify conditions under which transverse homoclinic points to the golden rule steady state are generat