Seminario de investigación del GIDE

El jueves 9 de junio a las 11 horas tendrá lugar un Seminario de investigación del GIDE titulado Self-Similar Fractal Measures in Multi-Sector Endogenous Growth Models, de Ph.D. Davide La Torre (SKEMA Business School, France).

Será en modalidad híbrida, en salón AAS 302 y virtual. Para obtener el link de acceso a los seminarios en modalidad virtual, comunicarse al correo Esta dirección de correo electrónico está siendo protegida contra los robots de spam. Necesita tener JavaScript habilitado para poder verlo..

Resumen

We analyze two types of stochastic discrete time multi-sector endogenous growth models, namely a basic Lucas-Uzawa (1988) model and an extended three-sector version as in La Torre and Marsiglio (2010). We focus on the dynamics of the capital ratio variables, and we show that, through appropriate log-transformations, they can be converted into affine iterated function systems converging to an invariant distribution supported on some fractal compact set. This proves that also the steady state of endogenous growth models—i.e., the stochastic balanced growth path equilibrium—might have a fractal nature. We also provide some sufficient conditions under which the associated self-similar measures turn out to be either singular or absolutely continuous.

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