Economic intermittency in a two-country model of business cycles coupled by investment

Y. Saiki, A.C.L. Chian and H. Yoshida

Chaos, Solitons & Fractals, 2011, vol. 44, issue 6, 418-428

Abstract: Intermittent behavior of economic dynamics is investigated by a two-country model of Keynes–Goodwin type business cycles. Numerical simulations show that after an economic system evolves from weak chaos to strong chaos the system keeps its memory before the transition and its time series alternates episodically between periods of weakly and strongly chaotic fluctuations. In addition, we examine the intermittent phenomena from the view point of business cycle patterns near the crisis point.

Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:eee:chsofr:v:44:y:2011:i:6:p:418-428

DOI: 10.1016/j.chaos.2011.02.010

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