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Kontrolle von Chaos am Beispiel des Kaldor-Modells / Controlling Chaos in the Kaldor Modell

Author

Listed:
  • Heilig Stephan
  • Schöbel Rainer

    (Universität Tübingen, Wirtschaftswissenschaftliches Seminar, Sigwartstraße 18, D-72076 Tübingen.)

Abstract

Using Kaldor’s business cycle model we show how a chaotic system with limited resources can be controlled in the general case where the equilibrium which we want to stabilize is not a saddle point. This problem has considerable economic relevance because it cannot be assumed that equilibria can always be characterized by a saddle point.

Suggested Citation

  • Heilig Stephan & Schöbel Rainer, 1999. "Kontrolle von Chaos am Beispiel des Kaldor-Modells / Controlling Chaos in the Kaldor Modell," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), De Gruyter, vol. 219(5-6), pages 657-672, October.
    • Handle: RePEc:jns:jbstat:v:219:y:1999:i:5-6:p:657-672
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