IDEAS home Printed from https://ideas.repec.org/a/taf/nmcmxx/v14y2008i6p571-586.html
   My bibliography  Save this article

Human capital externality and chaotic equilibrium dynamics

Author

Listed:
  • Hung-Ju Chen
  • Ming-Chia Li

Abstract

This study develops a two-period overlapping generations model in which adults undertake educational investment decisions on behalf of young agents. In addition to educational investment, we argue that the accumulation of human capital is also dependent upon the externality from average human capital within the economy. In a departure from the previous literature in this area, we assume that there is a reduction in the overall productivity of human capital accumulation brought about by human capital externality, and show that complicated dynamics will emerge under this circumstance. In addition to displaying the chaotic dynamics in the sense of Li and Yorke, we also verify the existence of Devaney's chaos and Smale's chaos.

Suggested Citation

  • Hung-Ju Chen & Ming-Chia Li, 2008. "Human capital externality and chaotic equilibrium dynamics," Mathematical and Computer Modelling of Dynamical Systems, Taylor & Francis Journals, vol. 14(6), pages 571-586, June.
    • Handle: RePEc:taf:nmcmxx:v:14:y:2008:i:6:p:571-586
    DOI: 10.1080/13873950802308901
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/13873950802308901
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/13873950802308901?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Hartwig, Johannes, 2022. "Semi-endogenous growth dynamics in a macroeconomic model with delays," Structural Change and Economic Dynamics, Elsevier, vol. 62(C), pages 538-551.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:nmcmxx:v:14:y:2008:i:6:p:571-586. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/NMCM20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.