Revisiting the business cycle model with cubic nonlinear investment function

María Muñoz-Guillermo

Chaos, Solitons & Fractals, 2021, vol. 142, issue C

Abstract: Puu [38] introduced a symmetric business cycle model with a cubic investment function depending on a parameter, nevertheless the fact that symmetry is not a needed condition for the investment function was highlighted in [40]. In this paper, the model for business cycles proposed by Puu is revisited using a topological entropy approach, in particular, we prove the existence of topological chaos for a wide range of parameter values. Moreover, a non-symmetric cubic investment map generalizing the model introduced by Puu is considered, giving answer to the posed question.

Keywords: Cubic investment map; Topological entropy; Chaos; Business cycles (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:eee:chsofr:v:142:y:2021:i:c:s0960077920309024

DOI: 10.1016/j.chaos.2020.110510

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