Habit formation and chaotic dynamics in ann-dimensional cash-in-advance economy

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

Publisher: Springer Netherlands
Year: 2009
Tongue: English
Weight: 441 KB
Volume: 58
Category: Article
ISSN: 0924-090X
DOI: 10.1007/s11071-008-9460-1

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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