Balanced-budget rules: chaos and deterministic sunspots

DOI10.1016/J.JET.2009.10.014MaRDI QIDQ972874zbMATH OpenOpenAlexFDO

Authors David R. Stockman

Publication date 21 May 2010

Published in Journal of Economic Theory (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1016/j.jet.2009.10.014

zbMATH Keywords

regime switchingchaoscyclesdifferential inclusionindeterminacyEuler equation branchingbalanced-budget rulemulti-valued dynamical systemsunspots

Mathematics Subject Classification ID

Macroeconomic theory (monetary models, models of taxation) (91B64) Economic dynamics (91B55)

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Cites work

• scientific article; zbMATH DE number 918596 (Why is no real title available?)
• Backward dynamics in economics. The inverse limit approach
• Balanced-budget rules and macroeconomic (in)stability
• Capital-labor substitution and competitive nonlinear endogenous business cycles
• Chaotic dynamics in a cash-in-advance economy
• Introduction to Applied Nonlinear Dynamical Systems and Chaos
• On Existence of Weakly Maximal Programmes in a Multi-Sector Economy
• Self-fulfilling prophecies
• Sufficient Conditions in Optimal Control Theory
• The inverse limits approach to chaos

Cited in

(13)

• On growing through cycles: Matsuyama's M-map and Li-Yorke chaos
• Invariant measures on multi-valued functions
• Controlling chaos in New Keynesian macroeconomics
• Tariff and equilibrium indeterminacy: a global analysis
• Fixed points imply chaos for a class of differential inclusions that arise in economic models
• Chaotic sets and Euler equation branching
• The perils of fiscal feedback rules
• Balanced‐budget rules: Local indeterminacy and bifurcations
• Chaos and sector-specific externalities
• Balanced-budget rules and macroeconomic (in)stability
• Indeterminacy and period length under balanced budget rules
• Deviant generations, Ricardian equivalence, and growth cycles
• Comparing recursive equilibrium in economies with dynamic complementarities and indeterminacy

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