| Title:
|
Chaotic behaviour of continuous dynamical system generated by Euler equation branching and its application in macroeconomic equilibrium model (English) |
| Author:
|
Volná, Barbora |
| Language:
|
English |
| Journal:
|
Mathematica Bohemica |
| ISSN:
|
0862-7959 (print) |
| ISSN:
|
2464-7136 (online) |
| Volume:
|
140 |
| Issue:
|
4 |
| Year:
|
2015 |
| Pages:
|
437-445 |
| Summary lang:
|
English |
| . |
| Category:
|
math |
| . |
| Summary:
|
We focus on the special type of the continuous dynamical system which is generated by Euler equation branching. Euler equation branching is a type of differential inclusion $\dot x \in \{f(x),g(x)\}$, where $f,g\colon X \subset \mathbb {R}^n \rightarrow \mathbb {R}^n$ are continuous and $f(x)\neq g(x)$ at every point $x \in X$. It seems this chaotic behaviour is typical for such dynamical system. \newline In the second part we show an application in a new formulated overall macroeconomic equilibrium model. This new model is based on the fundamental macroeconomic aggregate equilibrium model called the IS-LM model. (English) |
| Keyword:
|
Euler equation branching |
| Keyword:
|
chaos |
| Keyword:
|
IS-LM model |
| Keyword:
|
QY-ML model |
| MSC:
|
37N40 |
| MSC:
|
91B50 |
| MSC:
|
91B55 |
| idZBL:
|
Zbl 06537675 |
| idMR:
|
MR3432544 |
| DOI:
|
10.21136/MB.2015.144461 |
| . |
| Date available:
|
2015-11-17T20:49:05Z |
| Last updated:
|
2020-07-29 |
| Stable URL:
|
http://hdl.handle.net/10338.dmlcz/144461 |
| . |
| Reference:
|
[1] Gandolfo, G.: Economic Dynamics.Springer, Berlin (2009). MR 2841165 |
| Reference:
|
[2] Raines, B. E., Stockman, D. R.: Chaotic sets and Euler equation branching.J. Math. Econ. 46 (2010), 1173-1193. Zbl 1232.91467, MR 2739547, 10.1016/j.jmateco.2010.09.004 |
| Reference:
|
[3] Volná, B.: Existence of chaos in plane $\mathbb{R}^2$ and its application in macroeconomics.Appl. Math. Comput. 258 (2015), 237-266. MR 3323066, 10.1016/j.amc.2015.01.095 |
| . |
