✦ LIBER ✦

Multiperiodicity and irregularity in growth cycles: A continuous model of monetary attractors

✍ Scribed by P. Chen

Publisher: Elsevier Science
Year: 1988
Tongue: English
Weight: 1022 KB
Volume: 10
Category: Article
ISSN: 0895-7177
DOI: 10.1016/0895-7177(88)90155-0

No coin nor oath required. For personal study only.

✦ Synopsis

Empirical and theoretical investigations

of chaotic phenomena in a macroeconomic system are reported.

Evidence of low-dimensional strange attractors is found in several empirical monetary aggregates.

A continuous time deterministic model with delayed feedback is suggested to describe the monetary growth. Period doubling to chaos occurs in the model. Our model offers an explanation for the multiperiodicity and irregularity in business cycles and for the salient features of monetary attractors. It gives a unified description of growth cycles, long waves and economic fluctuations in a simple mathematical model.

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