Loretti Dobrescu

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We consider a discrete –delay time, Kaldor non –linear business cycle model in income and capital. Given an investment function, resembling the one discussed by Rodano, we use the linear approximation analysis to state the local stability property and local bifurcations, in the parameter space. Finally, we will give some numerical examples to justify the(More)
Working papers are in draft form. This working paper is distributed for purposes of comment and discussion only. It may not be reproduced without permission of the copyright holder. Copies of working papers are available from the author. Abstract This paper investigates the determinants of expert reviews in the book industry. Reviews are determined not only(More)
This paper develops a dynamic structural life-cycle model to study how heterogeneous health and medical spending shocks a¤ect the savings behavior of the elderly. Individuals are allowed to respond to health shocks in two ways: they can directly pay for their health care expenses (self-insure) or they can rely on health insurance contracts. There are two(More)
The present work will focus on a Kaldor-Kalecki non –linear business cycle model in income and capital, with discrete time and delay argument characteristics. What it will state, considering an investment function similar to the one proposed by Rodano and using the linear approximation analysis, are the local stability property and local bifurcations(More)
National saving rates di¤er enormously across developed countries. But these differences obscure a common trend, namely a dramatic decline over time. France and Italy, for example, saved over 17 percent of national income in 1970, but less than 7 international and intertemporal di¤erences? Is it demographics, government spending, productivity growth or(More)
The time evolution of prices and saving in a stock market is modelled by a discrete-delay nonlinear dynamical system. The proposed model has a unique and unstable steady-state, so that the time evolution is determined by the nonlinear e¤ects acting out the equilibrium. The analysis of linear approximation through the study of the eigenvalues of the Jacobian(More)
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