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From Sunspots to Black Holes: singular dynamics in macroeconomic models

Bibliographic Details
Main Author: Brito, Paulo
Publication Date: 2017
Other Authors: Costa, Luis F., Dixon, Huw
Language: eng
Source: Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)
Download full: http://hdl.handle.net/10400.5/30519
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 ruleSpringer NatureRepositório da Universidade de LisboaBrito, PauloCosta, Luis F.Dixon, Huw2024-04-03T09:52:53Z20172017-01-01T00:00:00Zbook partinfo:eu-repo/semantics/publishedVersionapplication/pdfhttp://hdl.handle.net/10400.5/30519engBrito, Paulo; Luís F. Costa and Huw Dixon .(2017). “From Sunspots to Black Holes: singular dynamics in macroeconomic models” in Sunspots and Non-Linear Dynamics, Studies in Economic Theory, Kazuo Nishimura, Alain Venditti and Nicholas C. Yannelis (Eds.), 31: Chapter 3: pp. 41- 70, Springer. 2017. (Search PDF in 2024).978-3-319-44076-7 (eBook)DOI 10.1007/978-3-319-44076-7_3info: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:RCAAP2025-03-17T16:27:45Zoai:repositorio.ulisboa.pt:10400.5/30519Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireinfo@rcaap.ptopendoar:https://opendoar.ac.uk/repository/71602025-05-29T04:15:39.814450Repositórios 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
author_role author
author2 Costa, Luis F.
Dixon, Huw
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
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 2017
dc.date.none.fl_str_mv 2017
2017-01-01T00:00:00Z
2024-04-03T09:52:53Z
dc.type.driver.fl_str_mv book part
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10400.5/30519
url http://hdl.handle.net/10400.5/30519
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv Brito, Paulo; Luís F. Costa and Huw Dixon .(2017). “From Sunspots to Black Holes: singular dynamics in macroeconomic models” in Sunspots and Non-Linear Dynamics, Studies in Economic Theory, Kazuo Nishimura, Alain Venditti and Nicholas C. Yannelis (Eds.), 31: Chapter 3: pp. 41- 70, Springer. 2017. (Search PDF in 2024).
978-3-319-44076-7 (eBook)
DOI 10.1007/978-3-319-44076-7_3
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 Springer Nature
publisher.none.fl_str_mv Springer Nature
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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