Macrostructures in Microeconomic Dynamics

Takuya Iimura

Studies in Nonlinear Dynamics & Econometrics, 2002, vol. 5, issue 4, 13

Abstract: This paper investigates topologically semiconjugate dynamics as a macrorepresentation of microeconomic dynamics. The condition for its existence, its summarizing property, and its inferability property are discussed. As an example, we present a model of a temporary equilibrium price dynamic that has a topologically semiconjugate one-dimensional income dynamic, from which the nature of the original price dynamic will be inferred.

Keywords: topologically semiconjugate dynamics; temporary equilibrium dynamics; microfoundation of macroeconomics; aggregation problem (search for similar items in EconPapers)
Date: 2002
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DOI: 10.2202/1558-3708.1084

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