Non-chaotic oscillations in some regularized Hicks models: a restatement of the ceiling and floor conditions
Article Abstract:
The dynamics of Hicks' trade cycle model was analyzed, specifically with regards to its upper and lower bounds. It was revealed that establishment of greater flexibility to the model's agents can only be achieved through regularization of its full employment upper bound called ceiling and its investment lower bound called floor. Regularization of ceiling and floor effects does not result to profound alteration of Hicks' model's qualitative behavior.
Publication Name: Journal of Economic Dynamics & Control
Subject: Economics
ISSN: 0165-1889
Year: 1998
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Time consistent side payments in a dynamic game of downsteam pollution
Article Abstract:
In this paper, neighboring countries coordinate to reduce downstream pollution which produces a surplus. This papers determines the rule to share the surplus gained by their cooperation.
Publication Name: Journal of Economic Dynamics & Control
Subject: Economics
ISSN: 0165-1889
Year: 2001
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