Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/185828
Authors: 
Bondarev, Anton
Weigt, Hannes
Year of Publication: 
2017
Series/Report no.: 
WWZ Working Paper 2017/08
Abstract: 
In this paper we argue, that the interaction of technology and economic policy regulations in the energy sector may be described by the so-called slow-fast class of dynamical systems. It is known that such systems may exhibit the blue sky catastrophe, a special type of bifurcation. Application of this result allows us to argue that caution is needed when updating economic policies in the energy sector to avoid the onset of catastrophic developments in the system's transformation, when energy system dynamics becomes unresponsive to policy updates.
Subjects: 
energy infrastructure
investments cycle
economic policy
slow-fast systems
blue sky catastrophe
JEL: 
L51
Q48
C6
C02
Document Type: 
Working Paper
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