Cyclical dynamics under continuous time equilibrium

Pietro Senesi ()
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Pietro Senesi: CELPE University of Salerno, University of Roma Tor Vergata

CELPE Discussion Papers from CELPE - CEnter for Labor and Political Economics, University of Salerno, Italy

Abstract: The present study characterizes the equilibrium set of economic dynamics under learning and sequential equilibrium when time is continuous. Sufficient conditions for the exact identification of the period of cycles are given. In particualr, the omega limit set can be the union of closed curves where the state of the economy repeats itself with irrational periodicity.

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Date: 2002-02
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