Kontrolle von Chaos am Beispiel des Kaldor-Modells / Controlling Chaos in the Kaldor Modell

Heilig Stephan () and Schöbel Rainer ()
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Schöbel Rainer: Universität Tübingen, Wirtschaftswissenschaftliches Seminar, Sigwartstraße 18, D-72076 Tübingen.

Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), 1999, vol. 219, issue 5-6, 657-672

Abstract: Using Kaldor’s business cycle model we show how a chaotic system with limited resources can be controlled in the general case where the equilibrium which we want to stabilize is not a saddle point. This problem has considerable economic relevance because it cannot be assumed that equilibria can always be characterized by a saddle point.

Keywords: Controlling chaos; Kaldor Model; Keynesian stabilization policy. (search for similar items in EconPapers)
Date: 1999
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Persistent link: https://EconPapers.repec.org/RePEc:jns:jbstat:v:219:y:1999:i:5-6:p:657-672

DOI: 10.1515/jbnst-1999-5-624

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