Abstract

The Kaldor model—one of the first nonlinear models of macroeconomics—is modified to incorporate a Preisach nonlinearity. The new dynamical system thus created shows highly complicated behaviour. This paper presents a rigorous (computer aided) proof of chaos in this new model, and of the existence of unstable periodic orbits of all minimal periods p > 57 .

Full Text
Paper version not known

Talk to us

Join us for a 30 min session where you can share your feedback and ask us any queries you have

Schedule a call

Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.