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Environmental sustainability, nonlinear dynamics and chaos

Author

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  • Junxi Zhang

    (Department of Economics, National University of Singapore, 10 Kent Ridge Crescent, Singapore 119260, SINGAPORE)

Abstract

This paper studies the possibility of nonlinear dynamics in a simple overlapping generations model with the environment - the John-Pecchenino (1994) model. We show that if people's concerns towards greener preferences and the maintenance efficiency relative to degradation are not sufficiently high, cyclically or chaotically fluctuating equilibria are more likely to exist; moreover, under a specific condition, a complicated topological structure might emerge. Our short-run analysis complements John and Pecchenino's long-run analysis and our findings suggest that the associated transition towards an environmentally sustainable state is not trivial.

Suggested Citation

  • Junxi Zhang, 1999. "Environmental sustainability, nonlinear dynamics and chaos," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 14(2), pages 489-500.
    • Handle: RePEc:spr:joecth:v:14:y:1999:i:2:p:489-500
    Note: Received: September 10, 1996; revised version: October 2, 1997
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    More about this item

    Keywords

    Environmental-growth models Sustainability · Com- plex dynamics.;

    JEL classification:

    • Q20 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - General
    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
    • C62 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Existence and Stability Conditions of Equilibrium

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