Finding an Example of an Optimising Agent with Cyclical Behaviour

Peter J. Stemp

No 4, Computing in Economics and Finance 2005 from Society for Computational Economics

Abstract: Most recent studies of dynamic macroeconomic relationships focus on models derived from optimising behaviour by economic agents. In most of these models, the eigenvalues of the associated dynamical system are real-valued and so the time-path of the system exhibits monotonic or near-monotonic behaviour. While, it is well-known that linear dynamic models with complex-valued eigenvalues exhibit the property of oscillatory dynamic behaviour, limited research has been undertaken to investigate the properties of optimising models with oscillatory behaviour. In this study, we will focus on producing an example of an optimising agent whose dynamics are characterised by complex-valued eigenvalues and who thus exhibits cyclical behaviour.

JEL-codes: E21 E27 (search for similar items in EconPapers)
Date: 2005-11-11
New Economics Papers: this item is included in nep-mac
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Citations: View citations in EconPapers (2)

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