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- Title
Environmental sustainability, nonlinear dynamics and chaos.
- Authors
Junxi Zhang
- Abstract
This paper studies the possibility of nonlinear dynamics in a simple overlapping generations model with the environment -- the John-Pecchenino (1994) model. We show that if people's concerns towards greener preferences and the maintenance efficiency relative to degradation are not sufficiently high, cyclically or chaotically fluctuating equilibria are more likely to exist; moreover, under a specific condition, a complicated topological structure might emerge. Our short-run analysis complements John and Pecchenino's long-run analysis and our findings suggest that the associated transition towards an environmentally sustainable state is not trivial.
- Subjects
SUSTAINABLE development; ECONOMIC development; ECONOMIC models; MATHEMATICAL models; CHAOS theory
- Publication
Economic Theory, 1999, Vol 14, Issue 2, p489
- ISSN
0938-2259
- Publication type
Article
- DOI
10.1007/s001990050307