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  1. On stabilizing volatile product returns

    Nowak, Thomas; Hofer, Vera
    As input ows of secondary raw materials show high volatility and tend to behave in a chaotic way, the identification of the main drivers of the dynamic behavior of returns plays a crucial role. Based on a stylized productionrecycling system consisting of a set of nonlinear difference equations, we explicitly derive parameter constellations where the system will or will not converge to its equilibrium. Using a constant elasticity of substitution production function, the model is then extended to enable coverage of real world situations. Using waste paper as a reference raw material, we empirically estimate the parameters of the system. By using these...
    (application/pdf) - 18-oct-2016

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