Kubin, Ingrid, Gardini, Laura. 2022. On the significance of borders: the emergence of endogenous dynamics. Journal of Economic Interaction and Coordination. 17 41-62.
BibTeX
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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Status of publication | Published |
---|---|
Affiliation | WU |
Type of publication | Journal article |
Journal | Journal of Economic Interaction and Coordination |
Citation Index | SSCI |
WU-Journal-Rating new | VW-D |
Language | English |
Title | On the significance of borders: the emergence of endogenous dynamics |
Volume | 17 |
Year | 2022 |
Page from | 41 |
Page to | 62 |
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
- Department of Economics (Kubin) (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)