Quotation Kubin, Ingrid, Gardini, Laura. 2020. On the significance of borders: the emergence of endogenous dynamics. Journal of Economic Interaction and Coordination.


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Abstract

We propose a prototype model of market dynamics in which all functional relationships are linear. We take into account three borders, defined by linear functions, that are intrinsic to the economic reasoning: non-negativity of prices; downward rigidity of capacity (depreciation); and a capacity constraint for the production decision. Given the linear specification, the borders are the only source for the emerging of cyclical and more complex dynamics. In particular, we discuss centre bifurcations, border collision bifurcations and degenerate flip bifurcations—dynamic phenomena the occurrence of which are intimately related to the existence of borders.

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Publication's profile

Status of publication Published
Affiliation WU
Type of publication Journal article
Journal Journal of Economic Interaction and Coordination
Citation Index SSCI
Language English
Title On the significance of borders: the emergence of endogenous dynamics
Year 2020
Reviewed? Y
URL http://link.springer.com/content/pdf/10.1007/s11403-020-00302-5.pdf
DOI http://dx.doi.org/10.1007/s11403-020-00302-5
Open Access Y
Open Access Link https://link.springer.com/article/10.1007/s11403-020-00302-5

Associations

People
Kubin, Ingrid (Details)
External
Gardini, Laura (Department of Economics, Society, Politics, University of Urbino, Urbino, Italy, Italy)
Organization
Institute for International Economics and Development IN (Details)
Research areas (ÖSTAT Classification 'Statistik Austria')
5304 Labour market research (Details)
5335 Political economic theory (Details)
5343 Economic theory (Details)
5344 Foreign trade (Details)
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