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  • Fractals and self-similarity in economics : the case of a stochastics two-sector growth model
    La Torre, Davide ; Marsiglio, Simone ; Privileggi, Fabio
    We study a stochastic, discrete-time, two-sector optimal growth model in whichthe production of the homogeneous consumption good uses a Cobb-Douglas technology, combining physical capital and an ... endogenously determined share ofhuman capital. Education is intensive in human capital as in Lucas (1988), but the marginal returns of the share of human capital employed in education are decreasing, as suggested by Rebelo (1991). Assuming that the exogenous shocks are i.i.d. and affect both physical and human capital, we build specific configurations for the primitives of the model so that the optimal dynamics for the state variables can be converted, through an appropriate log-transformation, into an Iterated Function System converging to an invariant distribution supported on a generalized Sierpinski gasket.
    Vir: Image analysis & stereology : official journal of the International Society for Stereology. - ISSN 1580-3139 (Vol. 30, no. 3, nov. 2011, str. 143-151)
    Vrsta gradiva - članek, sestavni del
    Leto - 2011
    Jezik - angleški
    COBISS.SI-ID - 29700057

    Povezava(-e):

    http://www.ias-iss.org/ojs/IAS/article/view/906
    Digitalna knjižnica Slovenije - dLib.si
    DOI

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