``Period three to period two'' bifurcation for piecewise linear models (Q1182150): Difference between revisions

A simple piecewise linear macroeconomic growth model is presented. The model is described as a control system with two state variables, two control variables and so-called Hicksian nonlinearities, i.e., the model is linear with ceiling and floor. The authors numerically show an interesting behaviour of the economy described by such a model, namely a new kind of a ``period three to period two'' bifurcation phenomenon.