Beyond the Accelerating Inflation Controversy: The Jerk and Jounce Price Variation

Giovanni Bella
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Giovanni Bella: Department of Economics and Business, Via S. Ignazio, 17 – 09123 Cagliari, Italy

International Journal of Economics and Financial Research, 2017, vol. 3, issue 11, 315-322

Abstract: The aim of this paper is to re-interprete the accelerationist Phillips curve, by studying the effect of the higher-order derivatives of acceleration. We show that a complex dynamic behavior emerges when dealing with a jerk and jounce displacement of price settings, whose simple unfolding leads to a three dimensional vector field which generates a double-scroll chaotic attractor.

Keywords: New Keynesian model; Phillips curve; Jerk and jounce variation; Double scroll attractor. (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:arp:ijefrr:2017:p:315-322

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