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Money and inflation in a nonlinear model

✍ Scribed by Donald A.R. George; Les Oxley


Book ID
104042415
Publisher
Elsevier Science
Year
2008
Tongue
English
Weight
503 KB
Volume
78
Category
Article
ISSN
0378-4754

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✦ Synopsis


A nonlinear model of inflation and growth, with a fixed rate of money growth, is developed and its global dynamics analysed. These are compared with the local, linearised dynamics of the model. It is shown that the global dynamics of the model plausibly predict hyperinflationary bubbles, which are not present in the linearised version. Numerical simulations of the model are presented.


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