Business–Cycle Models and the Dangers of Linearizing

O. Kozlovski, Patrick Pintus, S. van Strien and R. de Vilder
Additional contact information
O. Kozlovski: Warwick University
S. van Strien: Warwick University
R. de Vilder: DELTA-CNRS-EHESS-ENS

Journal of Optimization Theory and Applications, 2006, vol. 128, issue 2, No 7, 333-353

Abstract: Abstract This paper studies the consequences of linearizing nonlinear business–cycle models near their interior steady state. It is shown that dynamic objects, created for example in a Bogdanov-Takens bifurcation, may be lost in the linearization procedure. Sufficient conditions are provided ensuring the absence of various dynamic features in the nonlinear version of the model.

Keywords: Nonlinear dynamical systems; linearization; Bogdanov-Takens bifurcation; chaos (search for similar items in EconPapers)
Date: 2006
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://link.springer.com/10.1007/s10957-006-9019-6 Abstract (text/html)
Access to the full text of the articles in this series is restricted.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:joptap:v:128:y:2006:i:2:d:10.1007_s10957-006-9019-6

Ordering information: This journal article can be ordered from
http://www.springer. ... cs/journal/10957/PS2

DOI: 10.1007/s10957-006-9019-6

Access Statistics for this article

Journal of Optimization Theory and Applications is currently edited by Franco Giannessi and David G. Hull

More articles in Journal of Optimization Theory and Applications from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().