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Discrete-Time Nonlinear Models

In: Mathematical Methods in Dynamic Economics

Author

Listed:
  • András Simonovits

    (Hungarian Academy of Sciences)

Abstract

The results of Chapters 1 and 2 made it evident that "life is too nice to be true" in linear deterministic dynamical systems. Relying on Chapter 3, we shall analyze time-invariant discrete-time nonlinear economic models in this Chapter. These models yield cycles and more complex behavior not only as exception but as rule. In Section 4.1 irregular growth cycles are analyzed by reduction to the logistic model of Section 3.3. In Sections 4.2-4.4 we shall generalize the linear models of Chapter 2 to nonlinear (piecewise linear) ones. (Please, go through them before turning to these Sections!) In Section 4.2 the nonlinear accelerator-multiplier model is discussed. In Section 4.3 we shall investigate the nonlinear control of a multisector economy by stock signals. Section 4.4* considers the macro variant of the expectation driven model. Section 4.5 introduces mixed expectations. Finally, Section 4.6 concludes.

Suggested Citation

  • András Simonovits, 2000. "Discrete-Time Nonlinear Models," Palgrave Macmillan Books, in: Mathematical Methods in Dynamic Economics, chapter 4, pages 89-113, Palgrave Macmillan.
  • Handle: RePEc:pal:palchp:978-0-230-51353-2_5
    DOI: 10.1057/9780230513532_5
    as

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