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Complex Dynamics in Control Models with Bounds: A Review

In: Prices, Growth and Cycles

Author

Listed:
  • András Simonovits

Abstract

The present paper deals with one of Bródy’s major topics: the question of growth cycles. Since he discovered cycles in the Hungarian economy (Bródy, 1969), he has used several models to describe them. Bródy (1992; original draft, 1972) was the first model which applied Frisch’s (1993) simplified idea to the modelling of socialist investment cycles which was one of the building block of Bauer’s (1978) theory. In 1973 he used a variant of Kornai and Martos’s (1973) stock-signal control model (Bródy, 1981). Bródy (1983) returned to Bauer’s theory and successfully popularized it. In Bródy and Farkas (1987) and Bródy (1989), Goodwin’s (1967) ideas on Lotka and Volterra’s cycles were developed. The reader will also meet his ideas in this paper but in modified forms.

Suggested Citation

  • András Simonovits, 1997. "Complex Dynamics in Control Models with Bounds: A Review," Palgrave Macmillan Books, in: András Simonovits & Albert E. Steenge (ed.), Prices, Growth and Cycles, chapter 10, pages 184-199, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-25275-6_10
    DOI: 10.1007/978-1-349-25275-6_10
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