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Endogenous Cycles (endogenous + cycle)

Distribution by Scientific Domains

Business, Economics, Finance and Accounting	57%
Life Sciences	42%

Selected Abstracts

Endogenous Cycles and Menu Costs: A Dynamic Macroeconomic Model of Monopoly

METROECONOMICA, Issue 1 2002
Kirsten Ralf
We present a dynamic model of price setting in which price adjustments are costly for the monopolist. The general price level changes endogenously due to welfare changes. For the resulting two-dimensional dynamical system the existence of a continuum of stationary points is proven. Furthermore, simulations show that endogenous cycles of output can occur. [source]

ADAPTIVE CHANGE IN THE RESOURCE-EXPLOITATION TRAITS OF A GENERALIST CONSUMER: THE CEOLUTION AND COEXISTENCE OF GENERALISTS AND SPECIALISTS

EVOLUTION, Issue 3 2006
Peter A. Abrams
Abstract Mathematical models of consumer-resource systems are used to explore the evolution of traits related to resource acquisition in a generalist consumer species that is capable of exploiting two resources. The analysis focuses on whether evolution of traits determining the capture rates of two resources by a consumer species produce one generalist, two specialists, or all three types, when all types are characterized by a common fitness function. In systems with a stable equilibrium, evolution produces one generalist or two specialists, depending on the second derivative of the trade-off relationship. When there are sustained population fluctuations, the nature of the trade-off between the consumer's capture rates of the two resources still plays a key role in determining the evolutionary outcome. If the trade-off is described by a choice variable between zero and one that is raised to a power n, polymorphic states are possible when n > 1, which implies a positive second derivative of the curve. These states are either dimorphism, with two relatively specialized consumer types, or trimorphism, with a single generalist type and two specialists. Both endogenously driven consumer-resource cycles, and fluctuations driven by an environmental variable affecting resource growth are considered. Trimorphic evolutionary outcomes are relatively common in the case of endogenous cycles. In contrast to a previous study, these trimorphisms can often evolve even when new lineages are constrained to have phenotypes very similar to existing lineages. Exogenous cycles driven by environmental variation in resource growth rates appear to be much less likely to produce a mixture of generalists and specialists than are endogenous consumer-resource cycles. [source]

On the stabilizing virtues of imperfect competition

INTERNATIONAL JOURNAL OF ECONOMIC THEORY, Issue 4 2005
Thomas Seegmuller
D43; E32 We analyze the stabilizing role of imperfect competition on fluctuations as a result of indeterminacy and endogenous cycles. In this paper, imperfect competition is a source of monopoly profits, because of producer market power. Considering an overlapping generations model with capital accumulation and elastic labor supply, we show that under imperfect competition, the emergence of endogenous fluctuations requires a weaker substitution between production factors than under perfect competition. In this sense, imperfect competition stabilizes fluctuations. However, we find an opposite conclusion concerning the elasticity of labor supply. Indeed, endogenous fluctuations are compatible with a less elastic labor supply under imperfect competition. [source]

Local-scale synchrony and variability in mast seed production patterns of Picea glauca

JOURNAL OF ECOLOGY, Issue 5 2007
JALENE M. LAMONTAGNE
Summary 1Mast seeding is the synchronous and highly variable production of seed by a population of plants. Mast seeding results from the behaviour of individuals; however, little is known about the synchrony of individuals at local scales. 2We address two primary questions at a within-population (17,36 ha study plots) and individual level: (i) How variable is seed production between and within years? (ii) How synchronized is seed production between individuals? 3We monitored annual cone production of 356 Picea glauca (white spruce) from 1990 to 2005 within four plots spanning a total distance of 5.3 km in the Yukon Territory, Canada. 4Spearman correlations (rs) were conducted to test for synchrony. Overall, the trees were moderately synchronous (mean rs (± SE) of 0.52 ± 0.14), and synchrony was statistically detectable (rs > 0) over all distances. Individuals < 75 m apart were highly synchronous (0.64 ± 0.18), and correlations dropped to 0.33 ± 0.07 for trees > 3 km apart. There was considerable variation in cone production patterns among pairs of individuals. 5The number of mast years per plot varied from one to three. During a mast year, many individuals within plots produced large cone crops, with more variability between individuals in low mean cone years. Individual trees had dominant endogenous cycles varying from none to 1,5 years. Forty-four per cent of trees had no significant lag, 23% a negative 1-year lag, and 20% a positive 3-year lag. Basal area did not influence lags, but trees with higher mean cone production throughout the study were more likely to have a 3-year lag compared with no lag. 6The scale of highest synchrony coincided with the scale at which the dominant seed predator in the area, the territorial red squirrel (Tamiasciurus hudsonicus), operates. This may be the scale at which selection for synchrony occurs. 7Based on high synchrony locally, high synchrony within a mast year, and multiple lags in cone production by individuals, both available resources and strong weather cues appear to play roles in the observed patterns. [source]

Endogenous Cycles and Menu Costs: A Dynamic Macroeconomic Model of Monopoly

Dissecting components of population-level variation in seed production and the evolution of masting behavior

OIKOS, Issue 3 2003
Walter D. Koenig
Mast-fruiting or masting behavior is the cumulative result of the reproductive patterns of individuals within a population and thus involves components of individual variability, between-individual synchrony, and endogenous cycles of temporal autocorrelation. Extending prior work by Herrera, we explore the interrelationships of these components using data on individual seed production in 59 populations of plants from 24 species spanning a large range of annual variability, from species exhibiting strong masting to others with little annual variability in seed production. Estimates of population and individual variability were not biased by sample size or average overall seed production when based on untransformed seed production values, but these values declined as log-transformed seed production increased. Population variability was more strongly correlated with individual variability (r=0.86) than individual synchrony (r=0.73). These latter two components were also significantly correlated (r=0.45), but randomizations confirm that they need not covary closely. Thus, selection can act separately on inter-annual variability and between-individual synchrony. We illustrate the potential for such fine-tuned selection on seed production patterns by discussing several examples and by demonstrating significant differences in components of population-level variation in seed production among species related to their life-history. [source]

CAPITAL,LABOUR SUBSTITUTION AND ENDOGENOUS FLUCTUATIONS: A MONOPOLISTIC COMPETITION APPROACH WITH VARIABLE MARKUP,

THE JAPANESE ECONOMIC REVIEW, Issue 3 2009
THOMAS SEEGMULLER
This paper analyses an overlapping generations model with endogenous product diversity where strategic interactions between producers are introduced; it examines how they affect the stability properties of the steady state. Because of free entry, strategic interactions between producers imply a new dynamic feature, markup variability, promoting indeterminacy and endogenous cycles. Indeed, in contrast to the model without strategic interaction, endogenous fluctuations can occur when the substitution between the production factors, capital and labour, is not too weak, but in accordance with empirical estimates. [source]