Sources of complex dynamics in two-sector growth models
This paper develops a tractable multisectoral dynamic equilibrium model and provides a fairly complete analysis of the dynamics that may arise along the intertemporal competitive equilibrium path. Despite the fact that the environment displays neither random nor deterministic variability, the model may produce oscillations in aggregation variables such as output, consumption, and investment.
intertemporal competitive equilibrium path
scientific article; zbMATH DE number 4191367
scientific article