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Recycling waste and endogenous fluctuations in an OLG model

Author

Listed:
  • Mouez Fodha

    (CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique, PSE - Paris School of Economics - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement)

  • Francesco Magris

    (UT - Université de Tours, LEO - Laboratoire d'Économie d'Orleans [UMR7322] - UO - Université d'Orléans - UT - Université de Tours - CNRS - Centre National de la Recherche Scientifique)

Abstract

We study an overlapping generations model composed of two productive sectors: the first produces a virgin good and the second recycles a good from a previous period. When the profit of the recycling sector is in its increasing region, endogenous fluctuations emerge through a flip bifurcation when leisure and consumption are complementary. Conversely, when profit is in its decreasing region, deterministic cycles emerge also under the gross substitutability assumption. The steady state becomes indeterminate through a flip or a Hopf bifurcation, provided leisure and consumption are complements. We also study the social optimum and the altruistic market economy.

Suggested Citation

  • Mouez Fodha & Francesco Magris, 2015. "Recycling waste and endogenous fluctuations in an OLG model," PSE-Ecole d'économie de Paris (Postprint) hal-01308387, HAL.
    • Handle: RePEc:hal:pseptp:hal-01308387
    DOI: 10.1111/ijet.12073
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    Cited by:

    1. Fabre, Adrien & Fodha, Mouez & Ricci, Francesco, 2020. "Mineral resources for renewable energy: Optimal timing of energy production," Resource and Energy Economics, Elsevier, vol. 59(C).
    2. Fouad El Ouardighi & Konstantin Kogan & Raouf Boucekkine, 2017. "Optimal recycling under heterogeneous waste sources and the environmental Kuznets curve," Working Papers hal-01693488, HAL.

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