TY - JOUR
T1 - Complex behaviour in a piecewise linear dynamic macroeconomic model with endogenous discontinuity
AU - Asano, Takao
AU - Kunieda, Takuma
AU - Shibata, Akihisa
N1 - Funding Information:
The authors would like to thank Yuichi Fukuta, Keiichi Hori and an anonymous referee for their helpful comments. This research was financially supported by International Joint Research Center of Advanced Economic Research of KIER and the Grants-in-Aid for Scientific Research, JSPS.
PY - 2012/11
Y1 - 2012/11
N2 - 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.
AB - 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.
KW - credit cycles
KW - economic dynamics
KW - endogenous technology choice
KW - non-periodic fluctuations
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U2 - 10.1080/10236198.2011.601301
DO - 10.1080/10236198.2011.601301
M3 - Article
AN - SCOPUS:84868286005
SN - 1023-6198
VL - 18
SP - 1889
EP - 1898
JO - Journal of Difference Equations and Applications
JF - Journal of Difference Equations and Applications
IS - 11
ER -