Differential savings, factor shares, and endogenous growth cycles

Type of Publication: Journal article
URI (citable link): http://nbn-resolving.de/urn:nbn:de:bsz:352-opus-88523
Author: Böhm, Volker; Kaas, Leo
Year of publication: 2000
Published in: Journal of Economic Dynamics & Control ; 24 (2000), 5-7. - pp. 965-980
DOI (citable link): https://dx.doi.org/10.1016/S0165-1889(99)00032-9
Summary:
The paper analyzes the dynamic properties of the neoclassical one-sector growth model with differential savings in the sense of Kaldor-Pasinetti. The economy exhibits unstable steady states and fluctuations if the income distribution varies sufficiently and if shareholders save more than workers. The paper analyzes in detail the dynamics for the case with a fixed proportions technology as well as with a smooth approximation. If the savings propensities differ by an arbitrarily small amount, the system exhibits topological chaos in the sense of Li and Yorke for an open set of production functions. The analytical results are supplemented by numerical experiments.
JEL Classification: E25; E32; O40
Subject (DDC): 330 Economics
Keywords: Growth, Income distribution, Business cycles
Link to License: In Copyright

Cite This

Files in this item

[PDF]
Name: 20.pdf
Size: 560.4 KiB
Format: PDF
View/Open
Checksum: MD5:46966d07f0209de51e99604f1a1677c8

BÖHM, Volker, Leo KAAS, 2000. Differential savings, factor shares, and endogenous growth cycles. In: Journal of Economic Dynamics & Control. 24(5-7), pp. 965-980. Available under: doi: 10.1016/S0165-1889(99)00032-9

@article{Bohm2000Diffe-12048, title={Differential savings, factor shares, and endogenous growth cycles}, year={2000}, doi={10.1016/S0165-1889(99)00032-9}, number={5-7}, volume={24}, journal={Journal of Economic Dynamics & Control}, pages={965--980}, author={Böhm, Volker and Kaas, Leo} }

Kaas, Leo 2011-03-25T09:42:21Z application/pdf Böhm, Volker 2011-03-25T09:42:21Z Kaas, Leo The paper analyzes the dynamic properties of the neoclassical one-sector growth model with differential savings in the sense of Kaldor-Pasinetti. The economy exhibits unstable steady states and fluctuations if the income distribution varies sufficiently and if shareholders save more than workers. The paper analyzes in detail the dynamics for the case with a fixed proportions technology as well as with a smooth approximation. If the savings propensities differ by an arbitrarily small amount, the system exhibits topological chaos in the sense of Li and Yorke for an open set of production functions. The analytical results are supplemented by numerical experiments. 2000 Böhm, Volker eng terms-of-use First publ. in: Journal of Economic Dynamics & Control 24 (2000), 5-7, pp. 965-980 Differential savings, factor shares, and endogenous growth cycles

Downloads since Oct 1, 2014 (Information about access statistics)

20.pdf 263

This item appears in the following Collection(s)

Search KOPS


Browse

My Account