Stable, cyclic and chaotic growth: The dynamics of a discrete-time version of Goodwin's growth cycle model

DOI10.1007/BF01283106MaRDI QIDQ3907367zbMATH OpenFDO

Authors Matti Pohjola

Publication date 1981

Published in Zeitschrift für Nationalökonomie (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1007/BF01283106

zbMATH Keywords

discrete-time modeleconomic modellingbusiness cycle theoryGoodwin's growth cycle modelchaotic growthcyclic growthnon-linear first-order difference equationreal wage bargaining equationstable economic growth

Mathematics Subject Classification ID

Economic growth models (91B62) Discrete-time control/observation systems (93C55)

Cites work

• Period Three Implies Chaos
• Simple mathematical models with very complicated dynamics
• Snap-back repellers imply chaos in \(\mathbb{R}^n\)
• The dynamics of density dependent population models

Cited in

(10)

• Local and global dynamics of Ramsey model: from continuous to discrete time
• A Kolmogoroff generalized predator-prey model of Goodwin's growth cycle
• Marx-Goodwin growth cycles in a two-sector economy
• A dynamically consistent discretization method for Goodwin model
• Cyclical growth in a Goodwin-Kalecki-Marx model
• Resolution of chaos with application to a modified Samuelson model
• The role of chaotic processes in econometric models
• INTER‐CLASS TRANSFERS IN A GOODWIN‐TYPE GROWTH MODEL
• Post Keynesian perspectives and complex ecologic-economic dynamics
• Shrimp-shaped structure and period-bubbling route to chaos in a one-dimensional economic model

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