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

Barbora Volná (2015)

Mathematica Bohemica

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 x ˙ { f ( x ) , g ( x ) } , where f , g : X n 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....

Conservation laws and symmetry in economic growth models: a geometrical approach.

Manuel de León, David Martín de Diego (1998)

Extracta Mathematicae

The aim of the present paper is twofold. On one hand, we present a classification of infinitesimal symmetries for Lagrangian systems, and the corresponding Noether theorems. The derivation of the result is made by using the symplectic techniques. Some of the results were previously obtained by other authors (see Prince (1985) for instance), and an exhaustive presentation can be found in de León and Martín de Diego (1995, 1996). Let us note that these results are true even if the Lagrangian function...

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