✦ LIBER ✦
Non-chaotic oscillations in some regularized Hicks models A restatement of the ceiling and floor conditions
✍ Scribed by Dulce Saura; Francisco J. Vázquez; Jose M. Vegas
- Publisher
- Elsevier Science
- Year
- 1998
- Tongue
- English
- Weight
- 632 KB
- Volume
- 22
- Category
- Article
- ISSN
- 0165-1889
No coin nor oath required. For personal study only.
✦ Synopsis
Hicks' trade cycle model is an unstable linear model together with a ceiling (full employment upper bound) and a floor (investment lower bound) which generates nonchaotic behavior. An appropiate way of introducing a higher flexibility of the economic agents in the model is to "smooth out" these conditions. In this article we analyse these regularized models and we show that the qualitative behavior does not suffer a substantial change.