Discrete dynamics for the core-periphery model

L. Garrido-da-Silva (), Sofia B.S.D. Castro () and Paulo B. Vasconcelos ()
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L. Garrido-da-Silva: Faculdade Economia do Porto - Universidade do Porto
Sofia B.S.D. Castro: Faculdade Economia and Centro de Matemática da Universidade do Porto
Paulo B. Vasconcelos: Faculdade Economia and Centro de Matemática da Universidade do Porto

FEP Working Papers from Universidade do Porto, Faculdade de Economia do Porto

Abstract: It is known that the discretization of continuous-time models can introduce chaotic behaviour, even when this is not consistent with observations or even the model’s assumptions. We propose generic dynamics describing discrete-time core-periphery models that comply with the established assumptions in the literature and are consistent with observed behaviour. The desired properties of the dynamics are proved analytically in the general case. We also give particular forms for the dynamics for those interested in applying our model.

Keywords: Core-periphery; discrete-time; dynamics (search for similar items in EconPapers)
JEL-codes: C62 C63 R11 R12 (search for similar items in EconPapers)
Pages: 20 pages
Date: 2014-03
New Economics Papers: this item is included in nep-geo
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