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Chaotic dynamics in a monetary economy with habit persistence

✍ Scribed by Hung-Ju Chen; Ming-Chia Li


Book ID
116635203
Publisher
Elsevier Science
Year
2008
Tongue
English
Weight
317 KB
Volume
65
Category
Article
ISSN
0167-2681

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Chaotic dynamics in a cash-in-advance ec
✍ Ronald Michener; B. Ravikumar πŸ“‚ Article πŸ“… 1998 πŸ› Elsevier Science 🌐 English βš– 230 KB

This paper introduces sufficient conditions for the existence of deterministic cycles and chaos in cash-in-advance models, building on the earlier work of . Chaotic equilibria are shown to be particularly likely in the cash-in-advance model, because of a unique characteristic of such models: a disco