tag:blogger.com,1999:blog-26706564.post6225508716471393412..comments2024-03-25T07:51:47.758-04:00Comments on Thoughts On Economics: Bifurcations and "Perverse" Switch PointsRobert Vienneauhttp://www.blogger.com/profile/14748118392842775431noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-26706564.post-13877281244030791072007-02-13T05:01:00.000-05:002007-02-13T05:01:00.000-05:00Radek, thanks for the interest and the reference. ...Radek, thanks for the interest and the reference. I realize I haven't fully specified the model, and you cannot check my results from the presentation. I have put on-line long-winded iterations of my attempts to write up these results, both the <A HREF="http://www.dreamscape.com/rvien/Economics/Essays/Sraffa3.pdf" REL="nofollow">first closure</A> and the <A HREF="http://www.dreamscape.com/rvien/Economics/Essays/ProblemStatementPaper.pdf" REL="nofollow">second closure</A>.Robert Vienneauhttps://www.blogger.com/profile/14748118392842775431noreply@blogger.comtag:blogger.com,1999:blog-26706564.post-22186964602157161712007-02-12T17:51:00.000-05:002007-02-12T17:51:00.000-05:00I wish you'd flesh this out a bit since it's not p...I wish you'd flesh this out a bit since it's not possible to access Metroeconomic on line through Jstor. I'm assuming the production side is corn produced with corn and labor etc. Then in first closure you got ln (corn t)+ xi*ln(corn t+1) (or whatever the parameter is that you've got on x-axis).<BR/>Anyway, in an OLG model even with "Outdated Neoclassical Thinking" (tm) you can get these results, or almost any results. To make it look like the kind of vulgar neoclassicism you probably have in mind you pretty much need log utility, cobb douglas production and inelastic labor supply. It's been awhile since I looked at it but one reference is Galor and Ryder (1989, JET, Dec)<BR/><BR/>radekYouNotSneaky!https://www.blogger.com/profile/06378267534638281151noreply@blogger.com