Chaotic dynamics and bifurcation in a macro model
by Michael J. Stutzer
"The qualitative dynamics of a discrete time version of a deterministic, continuous time, nonlinear macro model formulated by Haavelmo are fully characterized. Recently developed methods of symbolic dynamics and ergodic theory are shown to provide a simple, effective means of analyzing the behavior of the resulting one-parameter family of first-order, deterministic, nonlinear difference equations. A complex periodic and random "aperiodic" orbit structure dependent on a key structural parameter is present, which contrasts with the total absence of such complexity in Haavelmo's continuous time version. Several implications for dynamic economic modelling are discussed"--Federal Reserve Bank of Minneapolis web site.
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Macroeconomics, Econometric models| Edition | Availability |
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Chaotic dynamics and bifurcation in a macro model
1980, Federal Reserve Bank of Minneapolis
electronic resource /
in English
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Title from PDF file as viewed on 10/16/2007.
Includes bibliographical references.
Also available in print.
System requirements: Adobe Acrobat Reader.
Mode of access: World Wide Web.
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