Discrete-Time Nonlinear Models

András Simonovits
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András Simonovits: Hungarian Academy of Sciences

Chapter 4 in Mathematical Methods in Dynamic Economics, 2000, pp 89-113 from Palgrave Macmillan

Abstract: Abstract The results of Chapters 1 and 2 made it evident that "life is too nice to be true" in linear deterministic dynamical systems. Relying on Chapter 3, we shall analyze time-invariant discrete-time nonlinear economic models in this Chapter. These models yield cycles and more complex behavior not only as exception but as rule. In Section 4.1 irregular growth cycles are analyzed by reduction to the logistic model of Section 3.3. In Sections 4.2-4.4 we shall generalize the linear models of Chapter 2 to nonlinear (piecewise linear) ones. (Please, go through them before turning to these Sections!) In Section 4.2 the nonlinear accelerator-multiplier model is discussed. In Section 4.3 we shall investigate the nonlinear control of a multisector economy by stock signals. Section 4.4* considers the macro variant of the expectation driven model. Section 4.5 introduces mixed expectations. Finally, Section 4.6 concludes.

Keywords: Unit Root; Global Stability; Local Stability; Rational Expectation; Phillips Curve (search for similar items in EconPapers)
Date: 2000
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-51353-2_5

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DOI: 10.1057/9780230513532_5

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