Shilnikov chaos, low interest rates, and New Keynesian macroeconomics

DOI10.1016/J.JEDC.2021.104291MaRDI QIDQ2115958zbMATH OpenOpenAlexFDO

Authors William A. Barnett, Giovanni Bella, Taniya Ghosh, Paolo Mattana, Beatrice Venturi

Publication date 15 March 2022

Published in Journal of Economic Dynamics and Control (Search for Journal in Brave)

Copyright license Creative Commons Attribution 4.0 International

Full work available at URL https://doi.org/10.1016/j.jedc.2021.104291

zbMATH Keywords

liquidity trapglobal indeterminacylong-term un-predictabilityshilnikov chaos

Mathematics Subject Classification ID

Game theory, economics, finance, and other social and behavioral sciences (91-XX)

Recommendations

• Interest rate rules, endogenous cycles, and chaotic dynamics in open economies
• The perils of Taylor rules
• New Keynesian dynamics in a low interest rate environment
• Shilnikov chaos in the Lucas model of endogenous growth
• Chaotic dynamics in optimal monetary policy

Cites work

• scientific article; zbMATH DE number 4207189 (Why is no real title available?)
• scientific article; zbMATH DE number 3487161 (Why is no real title available?)
• scientific article; zbMATH DE number 3894124 (Why is no real title available?)
• scientific article; zbMATH DE number 3220611 (Why is no real title available?)
• A single-blind controlled competition among tests for nonlinearity and chaos
• Deterministic chaos and fractal attractors as tools for nonparametric dynamical econometric inference: With an application to the Divisia monetary aggregates
• Elements of applied bifurcation theory.
• Liquidity trap and stability of Taylor rules
• Liquidity traps and expectation dynamics: fiscal stimulus or fiscal austerity?
• On Endogenous Competitive Business Cycles
• Scientific heritage of L. P. Shilnikov
• Shilnikov chaos in the Lucas model of endogenous growth
• The existence of homoclinic orbits to saddle-focus
• The perils of Taylor rules
• Šil'nikov homoclinic orbits in two classes of 3D autonomous nonlinear systems

Cited in

(5)

• Controlling chaos in New Keynesian macroeconomics
• New Keynesian dynamics in a low interest rate environment
• Spiral attractors in a reduced mean-field model of neuron-glial interaction
• Modeling and stabilization of an irregular pricing mechanism on a network of local markets
• Monetary policy and determinacy: an inquiry into open economy New Keynesian macrodynamics

This page was built for publication: Shilnikov chaos, low interest rates, and New Keynesian macroeconomics

Report a bug (only for logged in users!)Click here to report a bug for this page (MaRDI item Q2115958)