``Period three to period two'' bifurcation for piecewise linear models (Q1182150): Difference between revisions
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Revision as of 13:54, 15 May 2024
scientific article
| Language | Label | Description | Also known as |
|---|---|---|---|
| English | ``Period three to period two'' bifurcation for piecewise linear models |
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``Period three to period two'' bifurcation for piecewise linear models (English)
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28 June 1992
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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.
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piecewise linear macroeconomic growth model
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Hicksian nonlinearities
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bifurcation
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