Time-to-build and cycles

Journal of Economic Dynamics and Control

Volumn 23, Issue 8, 1999, Pages 1155-1175

  Asea, Patrick K ^a,b   Zak, Paul J ^c  

^a UNIVERSITY OF CALIFORNIA   (United States)

^b NATIONAL BUREAU OF ECONOMIC RESEARCH   (United States)

^c CLAREMONT GRADUATE UNIVERSITY   (United States)

Author keywords

Business cycles; C61; E32; Growth model; Hopf cycles; Optimality; Time to build

Indexed keywords

EID: 0001160843     PISSN: 01651889     EISSN: None     Source Type: Journal    
DOI: 10.1016/s0165-1889(98)00052-9     Document Type: Article

References (24)

1. Béliar J., Mackey M. Consumer memory and price fluctuations in commodity markets. An integro-differential model Journal of Dynamics and Differential Equations. 1(3):1989;299-325.
2. Bellman, R., Cooke, K., 1963. Differential-delay Equations. Academic Press, New York.
3. Benhabib J., Nishimura K. The Hopf bifurcation and the existence and stability of closed orbits in multi-sector models of optimal economic growth. Journal of Economic Theory. 21:1979;421-444.
4. Boldrin M., Woodford M. Equilibrium displaying endogenous fluctuations. a survey Journal of Monetary Economics. 25:1990;189-222.
5. Chaffee N. A bifurcation problem for a functional differential equation of finitely retarded type. Journal of Mathematical Analysis and Applications. 35:1971;312-348.
6. Churchill, R., Brown, J., Verhey, R., 1976. Complex Variables and Applications. McGraw-Hill, New York.
7. Driver, R., 1974. Ordinary and Delay Differential Equations. Springer, Berlin.
8. Frisch R., Holme H. The characteristic solutions of a mixed difference and differential equation occurring in economic dynamics. Econometrica. 3:1935;225-239.
9. Gyori, I., Lada, P., Oscillation Theory of Delay Differential Equations: With Applications. Oxford Mathematical Monographs, Oxford.
10. Hale, J., 1977. Theory of Functional Differential Equations. Springer, New York.
11. Howroyd T.D., Russell A.M. Cournot oligopoly models with time lags. Journal of Mathematical Economics. 13:1984;97-103.
12. Ioannides Y.M., Taub B. On dynamics with time-to-build investment technology and non-time-separable leisure. Journal of Economic Dynamics and Control. 16:1992;225-241.
13. James R.W., Belz M.H. The significance of characteristic solutions of mixed difference and differential equations. Econometrica. 6:1938;326-343.
14. Kalecki M. A macroeconomic theory of business cycles. Econometrica. 3:1935;327-344.
15. Kydland F.E., Prescott E.C. Time-to-build and aggregate fluctuations. Econometrica. 50:1982;1345-1370.
16. Mackey M. Commodity price fluctuations. price dependent delays and nonlinearities as explanatory factors Journal of Economic Theory. 48:1989;497-509.
17. Mahaffy J., Zak P., Joiner K. A geometric analysis of stability regions for a linear differential equation with two delays. International Journal of Bifurcation and Chaos. 5(3):1995;779-796.
18. Nishimura K., Sorger G. Optimal cycles and chaos. a survey Studies in Nonlinear Dynamics and Econometrics. 1(1):1996;11-28.
19. Pontryagin, L.S. et al., 1962. The Mathematical Theory of Optimal Processes. Wiley-Interscience, New York (Trirogoff, K.N., translator).
20. Reichlin P. Endogenous cycles in competitive models. an overview Studies in Nonlinear Dynamics and Econometrics. 1(4):1997;175-185.
21. Rustichini, A., 1987. Hopf bifurcation for functional differential equations of mixed type. Unpublished Ph.D. Dissertation, Department of Mathematics, University of Minnesota.
22. Rustichini A. Hopf Bifurcation for functional differential equations of mixed type. Journal of Dynamics and Differential Equations. 1(20):1989;145-177.
23. Schmidt, D.S., 1976. Hopf bifurcation theorem and the center manifold of Lyapunov. In: Marsden, J.E., McCracken, M. (Eds.), The Hopf Bifurcation and its Applications, Applied Mathematical Sciences, vol. 19, Chapter 3C. Springer, Berlin.
24. Walther, H-O., 1989. Hyperbolic Periodic Solutions, Heteroclinic Connections and Transversal Homoclinic Points in Autonomous Differential Delay Equations, Memoirs, American Mathematical Society, vol. 402. AMS, Providence, RI.