Growth Dynamics and Returns to Scale: Bifurcation Analysis

Journal of Economic Theory

Volumn 96, Issue 1-2, 2001, Pages 70-96

  Antinolfi, Gaetano ^a   Keister, Todd ^b   Shell, Karl ^c  

^a WASHINGTON UNIVERSITY   (United States)

^b INSTITUTO TECNOLÓGICO AUTÓNOMO DE MÉXICO   (Mexico)

^c Department of Obstetrics Gynecology   (United States)

Author keywords

Returns to scale; transcritical bifurcation; boundary bifurcation; endogenous growth; inventive activity

Indexed keywords

EID: 0037948395     PISSN: 00220531     EISSN: None     Source Type: Journal    
DOI: 10.1006/jeth.1999.2632     Document Type: Article

References (27)

1. Azariadis C., Drazen A. Threshold externalities in economic development. Quart. J. Econ. 105:1990;501-526.
2. Azariadis C., Guesnerie R. Sunspots and cycles. Rev. Econ. Stud. 53:1986;725-737.
3. Bala V. A pitchfork bifurcation in the tatonement process. Econ. Theory. 10:1997;521-530.
4. Barnett W., He Y. Stability analysis of continuous-time macroeconometric systems. Stud. Nonlinear Dynam. Econ. 3:1999;169-188.
5. Becker R., Foias C. The local bifurcation of Ramsey equilibrium. Econ. Theory. 4:1994;719-744.
6. Benhabib J., Nishimura K. The Hopf bifurcation and the existence and stability of closed orbits in multisector models of optimal economic growth. J. Econ. Theory. 21:1979;421-444.
7. Benhabib J., Rustichini A. Growth and indeterminacy in dynamic models with externalities. Econometrica. 62:1994;323-342.
8. Boyd J., Smith B. Capital market imperfections in a monetary growth model. Econ. Theory. 11:1998;241-273.
9. Budd C. Non-smooth dynamical systems and the grazing bifurcation. Aston P. Nonlinear Mathematics and its Applications. 1996;219-235 Cambridge Univ. Press, Cambridge.
10. Cartigny P., Venditti A. Turnpike theory: Some new results on the saddle point property of equilibria and on the existence of endogenous cycles. J. Econ. Dynam. Control. 18:1994;957-974.
11. Chiappori P.-A., Geoffard P.-Y., Guesnerie R. Sunspot fluctuations around a steady state: The case of multidimensional, one-step forward looking economic models. Econometrica. 60:1992;1097-1126.
12. Diamond P. National debt in a neoclassical growth model. Amer. Econ. Rev. 55:1965;1126-1150.
13. Grandmont J.-M. On endogenous competitive business cycles. Econometrica. 53:1985;995-1045.
14. Grossman G., Helpman E. Quality ladders in the theory of growth. Rev. Econ. Stud. 58:1991;43-61.
15. Guckenheimer J., Holmes P. Nonlinear Oscillations, Dynamical Systems, and Bifurcations of Vector Fields. 1983;Springer-Verlag, New York.
16. Jones C. R&D-based models of economic growth. J. Polit. Econ. 103:1995;759-784.
17. Jones L., Manuelli R. Finite lifetimes and growth. J. Econ. Theory. 58:1992;171-197.
18. Jovanovic B., Nyarko Y. The transfer of human capital. J. Econ. Dynam. Control. 19:1995;1033-1064.
19. Matsuyama K. Increasing returns, industrialization, and indeterminacy of equilibrium. Quart. J. Econ. 106:1991;617-650.
20. McGrattan E. A defense of AK growth models. Fed. Res. Bank Minn. Quart. Rev. 1998;13-27.
21. Romer P. Endogenous technological change. J. Polit. Econ. 98:1990;S71-S102.
22. Shell K. Toward a theory of inventive activity and capital accumulation. Amer. Econ. Rev. 56:1966;62-68.
23. Shell K. A model of inventive activity and capital accumulation. Shell K. Essays on the Theory of Optimal Economic Growth. 1967;67-85 MIT Press, Cambridge.
24. Shell K. Inventive activity, industrial organization and economic growth. Mirrlees J. A., Stern N. Models of Economic Growth. 1973;77-100 Macmillan, London.
25. Solow R. A contribution to the theory of economic growth. Quart. J. Econ. 70:1956;65-94.
26. Solow R. Learning from 'Learning by Doing': Lessons for Economic Growth. 1997;Stanford Univ. Press, Stanford.
27. Wiggins S. Introduction to Applied Nonlinear Dynamical Systems and Chaos. 1990;Springer-Verlag, New York.