We present a specific utility function which generates Giffen behavior. The derived demand function of each good is not only continuous in its price and income but also partly increasing in its price and decreasing in income. Moreover, we show that Giffen behavior is compatible with arbitrary...

We formulate a two(-country) by two(-tradable good) by two(-factor) dynamic general equilibrium model of endogenous growth and international rade that has no market distortion. After deriving the conditions for a balanced growth path with incomplete specialization in both countries to exist and...

This paper presents a simple overlapping generations model of small open economy with child-parent externality that exhibits chaotic equilibrium dynamics.

This paper presents a simple overlapping-generations model of a small open economy with child-parent externality that exhibits chaotic equilibrium dynamics. Copyright 1999 by Blackwell Publishing Ltd.