Complex behaviour in a piecewise linear dynamic macroeconomic model with endogenous discontinuity

Takao Asano, Takuma Kunieda, Akihisa Shibata

Research output: Contribution to journalArticlepeer-review

6 Citations (Scopus)

Abstract

This paper examines the dynamic property of a macroeconomic model developed by Matsuyama [Am. Econ. Rev. 97(2007), pp. 503-516] in detail. It is shown that the model can be transformed into a version of the neuron model analysed by Hata [J. Math. Kyoto Univ. 22(1982), pp. 155-173, Chaos in Neural Network Models (in Japanese), Asakura, Tokyo 1998] and that the system can exhibit either periodic fluctuations or non-periodic (chaotic) fluctuations.

Original languageEnglish
Pages (from-to)1889-1898
Number of pages10
JournalJournal of Difference Equations and Applications
Volume18
Issue number11
DOIs
Publication statusPublished - Nov 2012

Keywords

  • credit cycles
  • economic dynamics
  • endogenous technology choice
  • non-periodic fluctuations

ASJC Scopus subject areas

  • Analysis
  • Algebra and Number Theory
  • Applied Mathematics

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