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Dynamical Systems

In: Nonlinearities in Economics

Author

Listed:
  • Giuseppe Orlando

    (University of Bari, Department of Economics and Finance
    University of Camerino, School of Sciences and Technology)

  • Giovanni Taglialatela

    (University of Bari, Department of Economics and Finance)

Abstract

In this Chapter, we provide the definitions, notions and examples relevant for the analysis of the dynamical systems of interest to us in the remainder of this book. We start with with a description of dynamical systems and we provide a taxonomy. Then, we define continuous-time dynamical systems either in the form of ordinary differential equations (ODE) or from systems of ODE. Afterwards, we introduce the general concept of stability and of stable limit cycles and periodicity. That is followed by the notion of properties such as attractors and repellers. The basis of existence of periodic orbits in continuous-time systems and 1-d maps, is obtained in the last Section.

Suggested Citation

  • Giuseppe Orlando & Giovanni Taglialatela, 2021. "Dynamical Systems," Dynamic Modeling and Econometrics in Economics and Finance, in: Giuseppe Orlando & Alexander N. Pisarchik & Ruedi Stoop (ed.), Nonlinearities in Economics, chapter 0, pages 13-37, Springer.
    • Handle: RePEc:spr:dymchp:978-3-030-70982-2_2
    DOI: 10.1007/978-3-030-70982-2_2
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    Cited by:

    1. Giuseppe Orlando & Fabio Della Rossa, 2019. "An Empirical Test on Harrod’s Open Economy Dynamics," Mathematics, MDPI, vol. 7(6), pages 1-13, June.

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