Dynamic Investigations of an Endogenous Business Cycle Model with Heterogeneous Agents

Spiros Bougheas; Pasquale Commendatore; Laura Gardini; Ingrid Kubin

doi:10.1007/s10614-023-10492-2

Dynamic Investigations of an Endogenous Business Cycle Model with Heterogeneous Agents

Spiros Bougheas, Pasquale Commendatore, Laura Gardini, Ingrid Kubin^*

^*Korrespondierende*r Autor*in für diese Arbeit

Department für Volkswirtschaft (Rabitsch)

Publikation: Wissenschaftliche Fachzeitschrift › Originalbeitrag in Fachzeitschrift › Forschung › Begutachtung

Abstract

We introduce agents’ heterogeneity into a model of endogenous business cycles, in
which agents can invest either in ‘good’ projects that contribute to future capital formation, or in ‘bad’ projects without that property. The resulting map involves three
distinct regimes, two of which we linearize. Using theoretical results on piecewise
linear systems and on border collision bifurcations, we are able to provide a thourough analysis of the dynamics.

Originalsprache	Englisch
Seiten (von - bis)	665-689
Seitenumfang	25
Fachzeitschrift	Computational Economics
Jahrgang	65
Frühes Online-Datum	2023
DOIs	https://doi.org/10.1007/s10614-023-10492-2
Publikationsstatus	Veröffentlicht - 2025

Zugriff auf Dokument

10.1007/s10614-023-10492-2Lizenz: CC BY

Zitat

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AU - Kubin, Ingrid

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AB - We introduce agents’ heterogeneity into a model of endogenous business cycles, in which agents can invest either in ‘good’ projects that contribute to future capital formation, or in ‘bad’ projects without that property. The resulting map involves three distinct regimes, two of which we linearize. Using theoretical results on piecewise linear systems and on border collision bifurcations, we are able to provide a thourough analysis of the dynamics.

KW - Business cycles · Heterogeneous agents · Piecewise linear systems · Bifurcations

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DO - 10.1007/s10614-023-10492-2

M3 - Journal article

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EP - 689

JO - Computational Economics

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