Self-generated fertility waves in a non-linear continuous overlapping generations model |
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| Authors: | Gustav Feichtinger Gerhard Sorger |
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| Institution: | (1) Institut für Ökonometrie, Operations Research and Systemtheorie, Technische Universität Wien, Argentinierstrasse 8, A-1040 Wien, Austria;(2) Faculty of Management, University of Toronto, 246 Blor ST. W., M5SIV4 Toronto, Ontario, Canada |
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| Abstract: | In this paper, Samuelson's simplified version of the Easterlin theory (Samuelson 1976) is extended to a continuous-time model with three age groups. This approach enables one to apply the qualitative theory of non-linear differential equations to show the existence of Easterlin-type cycles. In contrast to the discrete time model we obtain information about the period length of the cycle.This research was supported by the Austrian Science Foundation under grant P6601. |
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