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Increasing Returns to Scale and Nonlinear Endogenous Fluctuations in a Simple Overlapping Generations Models: A Pedagogical Note

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  • Teresa Lloyd-Braga

Abstract

We study the role of increasing returns (in production) on the emergence of nonlinear endogenous fluctuations in a simple overlapping generations model. We specify conditions for the occurrence of local flip and Hopf bifurcations in terms of relevant parameters. We, also, present orbits exhibiting endogenous fluctuations, for some numerical examples. Our results, in compliance with other recent works, suggest that the environment in which endogenous fluctuations can emerge approaches those considered more plausible when there are increasing returns to scale.

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  • Teresa Lloyd-Braga, 2000. "Increasing Returns to Scale and Nonlinear Endogenous Fluctuations in a Simple Overlapping Generations Models: A Pedagogical Note," Annals of Economics and Statistics, GENES, issue 59, pages 89-106.
    • Handle: RePEc:adr:anecst:y:2000:i:59:p:89-106
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    Cited by:

    1. Thomas Seegmuller, 2004. "Endogenous Cycles in aTwo-sector Overlapping Generations Model under Intertemporal Substitutability," Annals of Economics and Statistics, GENES, issue 74, pages 131-146.
    2. Dos Santos Ferreira, Rodolphe & Lloyd-Braga, Teresa, 2005. "Non-linear endogenous fluctuations with free entry and variable markups," Journal of Economic Dynamics and Control, Elsevier, vol. 29(5), pages 847-871, May.

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