Chaotic behaviour of continuous dynamical system generated by Euler equation branching and its application in macroeconomic equilibrium model

Title:

Chaotic behaviour of continuous dynamical system generated by Euler equation branching and its application in macroeconomic equilibrium model

Creator:

Volná, Barbora

Identifier:

https://cdk.lib.cas.cz/client/handle/uuid:4dd2d66c-8ee3-4794-b19b-38164bc7bb51
uuid:4dd2d66c-8ee3-4794-b19b-38164bc7bb51
doi:10.21136/MB.2015.144461

Subject:

Euler equation branching, chaos, IS-LM model, and QY-ML model

Type:

model:article and TEXT

Format:

bez média and svazek

Description:

We focus on the special type of the continuous dynamical system which is genWe focus on the special type of the continuous dynamical system which is generated by Euler equation branching. Euler equation branching is a type of differential inclusion ˙x ∈ {f(x), g(x)}, where f, g : X ⊂ ℝ n → ℝ n are continuous and f(x) ≠ g(x) at every point x ∈ X. It seems this chaotic behaviour is typical for such dynamical system. In the second part we show an application in a new formulated overall macroeconomic equilibrium model. This new model is based on the fundamental macroeconomic aggregate equilibrium model called the IS-LM model.

Language:

English

Rights:

http://creativecommons.org/publicdomain/mark/1.0/
policy:public

Coverage:

437-445

Source:

Mathematica bohemica | 2015 Volume:140 | Number:4

Harvested from:

CDK

Metadata only:

false