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Money and Asset Prices in a Cash-in-Advance Economy

✍ Scribed by Lars E. O. Svensson


Book ID
125542008
Publisher
University of Chicago Press
Year
1985
Tongue
English
Weight
643 KB
Volume
93
Category
Article
ISSN
0022-3808

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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