記述言語：英語   掲載種別：研究論文（学術雑誌）   出版者・発行元：ELSEVIER SCIENCE SA  

We develop a simple piecewise linear overlapping generations model exhibiting endogenous business cycles, which is based on Matsuyama's (2007) model of credit cycles. Some sort of "noise" representing information imperfection is shown to transform the Matsuyama model into a continuous, eventually expanding, piecewise linear map on the interval, which is tractable enough to investigate the dynamics in depth by using the techniques of the Frobenius-Perron operators to find observable chaos. While, according to the analysis of Asano et al. (2012), the Matsuyama model exhibits periodic cycles of arbitrarily large period, it is essentially not capable of chaotic dynamics. However, our model exhibits ergodic chaos with some robustness. (C) 2018 Elsevier B.V. All rights reserved.

DOI： 10.1016/j.jmateco.2018.11.001

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記述言語：英語   掲載種別：研究論文（学術雑誌）   出版者・発行元：ELSEVIER SCIENCE BV  

In a large economy, it is extremely difficult, if not impossible, to immediately grasp the state of our surrounding environment with precision since we normally have access only to a subset of relevant information. In this paper, we introduce this information imperfection into an ordinary model of endogenous business cycles and examine how it would affect the dynamic nature of the model. We, in particular, present a mechanism by which observation errors result in chaotic fluctuations in a model that would behave regularly otherwise, thereby indicating the importance of potential misperception about the current state in a qualitative sense. Also, our model is tractable enough to explicitly derive a policy index of chaotic fluctuations under some conditions. This feature of the model allows us to draw some policy implications regarding the observability of macroeconomic state variables. (C) 2007 Elsevier B.V. All rights reserved.

DOI： 10.1016/j.jedc.2007.06.013

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記述言語：英語   掲載種別：研究論文（学術雑誌）   出版者・発行元：ELSEVIER SCIENCE BV  

This paper presents a model of endogenous business cycles in the presence of knowledge spillovers and a time-to-build restriction. There are two key assumptions that characterize the model: (i) the payoff to each firm depends on the aggregate state of knowledge, and (ii) the innovation of a project is time-consuming. Under those assumptions, a simple structure is shown to be described by a piecewise linear difference equation with a discontinuity. We show that the resulting dynamics generated by such a dynamical system leads to an asymmetric periodic cycle of arbitrary period that appears to switch repeatedly between different regimes. (C) 2004 Elsevier B.V. All rights reserved.

DOI： 10.1016/j.jebo.2003.04.006

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記述言語：英語   掲載種別：研究論文（学術雑誌）   出版者・発行元：ELSEVIER SCIENCE BV  

This paper provides an example in which a slight behavioral heterogeneity may fundamentally change the dynamical properties of a nonlinear cobweb market with a quadratic cost function and an isoelastic demand function. We consider two types of producers; cautious adapters and naive optimizers. In a market of naive optimizers a single cautious, adapter stabilizes the otherwise exploding market. In a market of cautious adapters a single naive optimizer may destabilize the market; without him there exists at most one periodic attractor in the market but with him there may appear many (and even infinitely many) coexisting periodic attractors. (C) 2002 Elsevier Science B.V. All rights reserved.

DOI： 10.1016/S0165-1889(02)00090-8

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記述言語：英語   掲載種別：研究論文（学術雑誌）   出版者・発行元：ELSEVIER SCIENCE BV  

This paper investigates the global dynamics of a two-dimensional Diamond-type overlapping generations model extended to allow for government intervention. Using a singular perturbation method, we identify conditions under which transverse homoclinic points to the golden rule steady state are generated. For a parametric example with a CES production function, the occurrence of complicated dynamics (e.g. strange attractors) associated with homoclinic bifurcations is demonstrated. (C) 2000 Elsevier Science B.V. All rights reserved. JEL classification. E32.

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記述言語：英語   掲載種別：研究論文（学術雑誌）   出版者・発行元：ELSEVIER SCIENCE BV  

Chaos occurs in a nonlinear cobweb model with normal demand and supply, naive expectations and adaptive production adjustment. The model differs from existing ones in that it includes adaptive production adjustment instead of adaptive expectations. The model exhibits observable chaos (strange attractors) as well as topological chaos (horseshoes) associated with homoclinic points. As numerical simulations show, the faster suppliers adjust their production and the more inelastic demand is, the more likely the market behaves chaotically. (C) 2000 Elsevier Science B.V. All rights reserved.

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記述言語：英語   掲載種別：研究論文（学術雑誌）   出版者・発行元：PERGAMON-ELSEVIER SCIENCE LTD  

In the present paper two-dimensional discrete Kaldor-type models are investigated. First, a sufficient condition for the existence of topological chaos of the model is derived analytically for a special parameter set. Second, the influences of noise on the Kaldor model are examined numerically. We show that noise may not only obscure the underlying structures, but also reveal the hidden structures, for example, the chaotic attractors near a window of chaos or the periodic attractors near a small chaotic parameter region. Copyright (C) 1996 Elsevier Science Ltd.

DOI： 10.1016/S0960-0779(96)00077-X

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記述言語：日本語   出版者・発行元：岡山大学経済学会  

生産を含む世代重複モデルにおいて，２つのマクロ政策の混合を検討する。ひとつは，政府が資本や土地などの資産を国有化し，民間部門に永続的に貸与することである。もうひとつは，産児制限などにより人口成長率を制御することである。政府が存在しない単純な経済では，一般に定常状態は，ひとつの最適性の条件である黄金律を満たさないが，第１の政策により発生する定常状態のひとつは黄金律を満たす。しかし，その黄金律定常状態は，必ずしも動学的安定性を持たず，場合によっては，カオス的な不変集合に含まれる。特にそのような場合に，第２の政策として，カオスの特性を利用するOGY 法を援用することで，人口成長率を任意に小さな振れ幅で制御しながら，不規則に変動する成長循環経路を黄金律均斉成長経路に同期させる方法を議論する。

DOI： 10.18926/OER/21507

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その他リンク： http://ousar.lib.okayama-u.ac.jp/21507

記述言語：日本語   出版者・発行元：岡山大学経済学会  

本稿では，開放マクロ経済学でよく利用される Mundell-Fleming モデルの動学版を２つの方向に拡張し，そこから得られる為替レートの変動を調べる。第１の拡張は，定常状態での局所的な Marshall-Lerner 条件を維持しつつ，大域的にはそれが満たされない状況を定式化することである。より詳しく言うと，通常の定常状態の近傍では小国である自国の通貨の減価は純輸出を増加させるが，為替レートがその範囲を超えると，逆に自国通貨の減価が純輸出を減少させるという状況である。第２の拡張は，大国である外国，あるいは世界経済，が持続的かつ周期的な景気循環に曝されている状況をモデルに組み入れることである。このような設定のもとで，為替レートが自国通貨高均衡と自国通貨安均衡のそれぞれの周囲を経巡るような複雑な変動を生じることを計算機による数値計算により観察する。

DOI： 10.18926/OER/19854

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その他リンク： http://ousar.lib.okayama-u.ac.jp/19854

記述言語：英語   出版者・発行元：京都大学  

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記述言語：英語   出版者・発行元：岡山大学経済学会  

In many standard undergraduate textbooks of macroeconomics, open economies are discussed by means of the Mundell−Fleming model, an open macroeconomic version of the IS−LM model. This short paper develops a simple differential−equation version of the dynamic Mundell−Fleming model, taking account of two key assumptions : (i) the Marshall−Lerner condition is globally violated and (ii) the investment function depends nonlinearly on the current output level. Under our settings, we demonstrate that the exchange rate and the other relevant variables can display persistent fluctuations due to the occurrence of a stable limit cycle. We also discuss a paradox that the resulting dynamics may well be consistent with the J−curve effect.

DOI： 10.18926/OER/40500

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その他リンク： http://ousar.lib.okayama-u.ac.jp/40500

記述言語：英語   出版者・発行元：岡山大学経済学会  

This paper considers a dynamic commons game in relation with mitigation of invasive alien species such as nutria in Okayama. In our commons game, players (trappers) non−cooperatively seek to maximize their own payoff by extracting the renewable resource stock (nutria). One key assumption is that the cost of extraction ofthe resource is negatively related to the current stock level. For a low level of resource stock, the extraction cost is high, which makes the extraction less lucrative for the players and which in turn stimulates the renewableresource stock to regenerate more rapidly. As the resource stock reaches a high level, the reverse process will start, and this can cause oscillating behaviors. Our simple model proposed here exemplifies that an increase in the number of players can drastically change the qualitative as well as quantitative features of the dynamics for the renewable resource stock.

DOI： 10.18926/OER/40487

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その他リンク： http://ousar.lib.okayama-u.ac.jp/40487

記述言語：英語   出版者・発行元：岡山大学経済学会  

This note considers a situation in which the publisher of an academic journal seeks to maintain the number of contributions to the journal by subsidizing the contributors with some incentive payments. We show that under the incentive payment scheme that distributes some pre−determined total amount of payments equally to each contributor (the constant total payment scheme), the number of contributions can fluctuate cyclically as well as chaotically over time when the potential contributors form adaptive expectations. Numerical simulations suggest, among other things, that the performance of the constant total payment scheme may be more efficient than the constant per−capita payment scheme when the total amount of payments is supposed to be small.

DOI： 10.18926/OER/40527

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その他リンク： http://ousar.lib.okayama-u.ac.jp/40527

記述言語：日本語   出版者・発行元：岡山大学大学院文化科学研究科  

本稿は、資本蓄積と適応的予見を含む、２つの地域からなる世代重複モデルを提示する。シュミレーションにより、地域格差に基づく労働移動の可能性が周期変動、準周期変動、カオス的変動などの持続的な内生的経済変動を生み出す要因となりえることを見出す。

DOI： 10.18926/1658

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記述言語：英語   出版者・発行元：岡山大学経済学会  

Paul Krugman (1991) proposed a geographic model in which a country consisting of two regions canendogenously become differentiated into an industrialized "core" and an agricultural "periphery". His model cangive rise to multiple equilibria at which manufacturing production is concentrated in one region or divided between the both regions. We introduce to his basically static model a discrete−time adjustment process which leads the workers who earn lower real wage than the average to migrate to the other region which offers themhigher real wage. Numerical simulations suggest not only that persistent endogenous fluctuations in manufacturing share are possible but also that discontinuous changes in manufacturing share over time can occur without any changes in the underlying system. Furthermore, the basin of attraction for a concentration steady state turns out to have a complicated structure for high transportaion costs.

DOI： 10.18926/OER/40933

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その他リンク： http://ousar.lib.okayama-u.ac.jp/40933

記述言語：英語   出版者・発行元：一般社団法人電子情報通信学会  

This paper provides an example in which a slight behavioral heterogeneity may fundamentally change the qualitative properties of a nonlinear cobweb market with a quadratic cost function and an isoelastic demand function. We consider two types of producers: adaptive and naive. In a market of naive agents a single adaptive agent stabilizes the otherwise exploding market. In a market of adaptive agents a single naive agent may destabilize the market: without him there exists at most one periodic attractor in the market but with him there may appear many coexisting periodic attractors of arbitrarily large periods.

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記述言語：日本語   出版者・発行元：貯蓄経済研究室  

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