From Sunspots to Black Holes: Singular dynamics in macroeconomic models

Bibliographic Details
Main Author: Brito, Paulo
Publication Date: 2016
Other Authors: Costa, Luis F., Dixon, Huw David
Format: Article
Language: eng
Source: Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)
Download full: http://hdl.handle.net/10400.5/30188
Summary: We present conditions for the emergence of singularities in DGE models. We distinguish between slow-fast and impasse singularity types, review geometrical methods to deal with both types of singularity and apply them to DGE dynamics. We find that impasse singularities can generate new types of DGE dynamics, in particular temporary determinacy/indeterminacy. We illustrate the different nature of the two types of singularities and apply our results to two simple models: the Benhabib and Farmer (1994) model and one with a cyclical fiscal policy rule.
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spelling From Sunspots to Black Holes: Singular dynamics in macroeconomic modelsSlow-Fast SingularitiesImpasse SingularitiesMacroeconomic DynamicsTemporary IndeterminacyWe present conditions for the emergence of singularities in DGE models. We distinguish between slow-fast and impasse singularity types, review geometrical methods to deal with both types of singularity and apply them to DGE dynamics. We find that impasse singularities can generate new types of DGE dynamics, in particular temporary determinacy/indeterminacy. We illustrate the different nature of the two types of singularities and apply our results to two simple models: the Benhabib and Farmer (1994) model and one with a cyclical fiscal policy rule.Cardiff Business SchoolRepositório da Universidade de LisboaBrito, PauloCosta, Luis F.Dixon, Huw David2024-02-23T10:08:38Z20162016-01-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10400.5/30188engBrito, Paulo; Luís F. Costa and Huw David Dixon .(2016). “From Sunspots to Black Holes: Singular dynamics in macroeconomic models”. Cardiff Business School | Cardiff Economics Working Papers, No. E2016/6 . (Search PDF in 2024)1749 - 6101info:eu-repo/semantics/openAccessreponame:Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)instname:FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologiainstacron:RCAAP2025-03-17T16:24:46Zoai:repositorio.ulisboa.pt:10400.5/30188Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireinfo@rcaap.ptopendoar:https://opendoar.ac.uk/repository/71602025-05-29T04:13:35.585905Repositórios Científicos de Acesso Aberto de Portugal (RCAAP) - FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologiafalse
dc.title.none.fl_str_mv From Sunspots to Black Holes: Singular dynamics in macroeconomic models
title From Sunspots to Black Holes: Singular dynamics in macroeconomic models
spellingShingle From Sunspots to Black Holes: Singular dynamics in macroeconomic models
Brito, Paulo
Slow-Fast Singularities
Impasse Singularities
Macroeconomic Dynamics
Temporary Indeterminacy
title_short From Sunspots to Black Holes: Singular dynamics in macroeconomic models
title_full From Sunspots to Black Holes: Singular dynamics in macroeconomic models
title_fullStr From Sunspots to Black Holes: Singular dynamics in macroeconomic models
title_full_unstemmed From Sunspots to Black Holes: Singular dynamics in macroeconomic models
title_sort From Sunspots to Black Holes: Singular dynamics in macroeconomic models
author Brito, Paulo
author_facet Brito, Paulo
Costa, Luis F.
Dixon, Huw David
author_role author
author2 Costa, Luis F.
Dixon, Huw David
author2_role author
author
dc.contributor.none.fl_str_mv Repositório da Universidade de Lisboa
dc.contributor.author.fl_str_mv Brito, Paulo
Costa, Luis F.
Dixon, Huw David
dc.subject.por.fl_str_mv Slow-Fast Singularities
Impasse Singularities
Macroeconomic Dynamics
Temporary Indeterminacy
topic Slow-Fast Singularities
Impasse Singularities
Macroeconomic Dynamics
Temporary Indeterminacy
description We present conditions for the emergence of singularities in DGE models. We distinguish between slow-fast and impasse singularity types, review geometrical methods to deal with both types of singularity and apply them to DGE dynamics. We find that impasse singularities can generate new types of DGE dynamics, in particular temporary determinacy/indeterminacy. We illustrate the different nature of the two types of singularities and apply our results to two simple models: the Benhabib and Farmer (1994) model and one with a cyclical fiscal policy rule.
publishDate 2016
dc.date.none.fl_str_mv 2016
2016-01-01T00:00:00Z
2024-02-23T10:08:38Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10400.5/30188
url http://hdl.handle.net/10400.5/30188
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv Brito, Paulo; Luís F. Costa and Huw David Dixon .(2016). “From Sunspots to Black Holes: Singular dynamics in macroeconomic models”. Cardiff Business School | Cardiff Economics Working Papers, No. E2016/6 . (Search PDF in 2024)
1749 - 6101
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv Cardiff Business School
publisher.none.fl_str_mv Cardiff Business School
dc.source.none.fl_str_mv reponame:Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)
instname:FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologia
instacron:RCAAP
instname_str FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologia
instacron_str RCAAP
institution RCAAP
reponame_str Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)
collection Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)
repository.name.fl_str_mv Repositórios Científicos de Acesso Aberto de Portugal (RCAAP) - FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologia
repository.mail.fl_str_mv info@rcaap.pt
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