Chaotic behaviour of continuous dynamical system generated by Euler equation branching and its application in macroeconomic equilibrium model
Mathematica Bohemica (2015)
- Volume: 140, Issue: 4, page 437-445
- ISSN: 0862-7959
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topVolná, Barbora. "Chaotic behaviour of continuous dynamical system generated by Euler equation branching and its application in macroeconomic equilibrium model." Mathematica Bohemica 140.4 (2015): 437-445. <http://eudml.org/doc/271831>.
@article{Volná2015,
abstract = {We 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 $\dot\{x\} \in \lbrace f(x),g(x)\rbrace $, where $f,g\colon X \subset \mathbb \{R\}^n \rightarrow \mathbb \{R\}^n$ are continuous and $f(x)\ne g(x)$ at every point $x \in X$. 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.},
author = {Volná, Barbora},
journal = {Mathematica Bohemica},
keywords = {Euler equation branching; chaos; IS-LM model; QY-ML model},
language = {eng},
number = {4},
pages = {437-445},
publisher = {Institute of Mathematics, Academy of Sciences of the Czech Republic},
title = {Chaotic behaviour of continuous dynamical system generated by Euler equation branching and its application in macroeconomic equilibrium model},
url = {http://eudml.org/doc/271831},
volume = {140},
year = {2015},
}
TY - JOUR
AU - Volná, Barbora
TI - Chaotic behaviour of continuous dynamical system generated by Euler equation branching and its application in macroeconomic equilibrium model
JO - Mathematica Bohemica
PY - 2015
PB - Institute of Mathematics, Academy of Sciences of the Czech Republic
VL - 140
IS - 4
SP - 437
EP - 445
AB - We 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 $\dot{x} \in \lbrace f(x),g(x)\rbrace $, where $f,g\colon X \subset \mathbb {R}^n \rightarrow \mathbb {R}^n$ are continuous and $f(x)\ne g(x)$ at every point $x \in X$. 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.
LA - eng
KW - Euler equation branching; chaos; IS-LM model; QY-ML model
UR - http://eudml.org/doc/271831
ER -
References
top- Gandolfo, G., Economic Dynamics, Springer, Berlin (2009). (2009) MR2841165
- Raines, B. E., Stockman, D. R., 10.1016/j.jmateco.2010.09.004, J. Math. Econ. 46 (2010), 1173-1193. (2010) Zbl1232.91467MR2739547DOI10.1016/j.jmateco.2010.09.004
- Volná, B., 10.1016/j.amc.2015.01.095, Appl. Math. Comput. 258 (2015), 237-266. (2015) MR3323066DOI10.1016/j.amc.2015.01.095
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