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Investment Limit Cycles in a Socialist Economy

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  • Simonovits, A

Abstract

The present paper generalizes a linear cycle model of the socialist economy studied in Simonovits (1990): the two equations describing the reproduction of the tensions are retained, while the two linear reaction equations are confined to the interval of lower and upper bounds; outside these intervals the decisions are given by the corresponding bounds (cf. Hicks, 1950). The main result is the following: If a certain linear system of equations and inequalities has a solution, then there exists a limit cycle with period 4, the amplitude of which is independent of the initial states. Copyright 1991 by Kluwer Academic Publishers

Suggested Citation

  • Simonovits, A, 1991. "Investment Limit Cycles in a Socialist Economy," Economic Change and Restructuring, Springer, vol. 24(1), pages 27-46.
    • Handle: RePEc:kap:ecopln:v:24:y:1991:i:1:p:27-46
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    Cited by:

    1. Bacsi, Zsuzsanna, 1997. "Modelling chaotic behaviour in agricultural prices using a discrete deterministic nonlinear price model," Agricultural Systems, Elsevier, vol. 55(3), pages 445-459, November.
    2. J. Barkley Rosser & Marina Vchershnaya Rosser, 1997. "Schumpeterian Evolutionary Dynamics and the Collapse of Soviet-Bloc Socialism," Review of Political Economy, Taylor & Francis Journals, vol. 9(2), pages 211-223.
    3. Athanasiou, George & Karafyllis, Iasson & Kotsios, Stelios, 2008. "Price stabilization using buffer stocks," Journal of Economic Dynamics and Control, Elsevier, vol. 32(4), pages 1212-1235, April.
    4. Hommes, Cars H. & Nusse, Helena E. & Simonovits, Andras, 1995. "Cycles and chaos in a socialist economy," Journal of Economic Dynamics and Control, Elsevier, vol. 19(1-2), pages 155-179.

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