Chaotic dynamics in a flexible exchange rate system: a study of noise effects (Q5929115)
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scientific article; zbMATH DE number 1588355
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| English | Chaotic dynamics in a flexible exchange rate system: a study of noise effects |
scientific article; zbMATH DE number 1588355 |
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Chaotic dynamics in a flexible exchange rate system: a study of noise effects (English)
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23 April 2002
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Summary: We investigate by means of an analytical method and numerical simulations the properties of three-dimensional business cycle model, in which the foreign exchange rate is flexible and a parameter is fluctuated by noise. The model is a discrete time version of continuous time open economy model without noise. [\textit{T. Asada}, J. Econ. 62, No. 3, 239-269 (1995; Zbl 0861.90024)]. We show (1) noise may suppress the burst of flexible foreign exchange rate when its behavior begins to burst as a bifurcation parameter (adjustment speed of the goods market) is increased, (2) the windows of cycles can be broken by noise, and (3) noise may reveal the hidden structures.
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chaotic dynamics
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noise effects
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small open economy
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flexible foreign exchange rate
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0.8059834837913513
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0.7404462695121765
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0.7396847009658813
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0.7125084400177002
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0.7066439390182495
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