A necessary and sufficient condition for the existence of chaotic dynamics in a neoclassical growth model with a pollution effect

In this paper, we study a neoclassical growth model with a (productivity inhibiting) pollution effect. In particular, we obtain a necessary and sufficient condition for the existence of a topological chaos. We investigate how the condition changes as the strength of the pollution effect changes. Thi...

Full description

Saved in:
Bibliographic Details
Published inEconomic theory bulletin Vol. 12; no. 1; pp. 79 - 86
Main Author Uchiyama, Tomohiro
Format Journal Article
LanguageEnglish
Published Cham Springer International Publishing 01.06.2024
Springer Nature B.V
Subjects
Economic theory
Economic Theory/Quantitative Economics/Mathematical Methods
Economics
Economics and Finance
Game Theory
Macroeconomics/Monetary Economics//Financial Economics
Neoclassicism
Pollution
Public Finance
Research Article
Social and Behav. Sciences
Topology
Chaos
Neoclassical growth model
Externality
Online AccessGet full text

Cover

More Information
Summary:In this paper, we study a neoclassical growth model with a (productivity inhibiting) pollution effect. In particular, we obtain a necessary and sufficient condition for the existence of a topological chaos. We investigate how the condition changes as the strength of the pollution effect changes. This is a new application of a recent result characterising the existence of a topological chaos for a unimodal interval map by Deng et al. (J Econ Theory 201:Article 105446, 2022).
ISSN:2196-1085
2196-1093
DOI:10.1007/s40505-024-00264-y