Cycles and chaos in a socialist economy

Article Abstract:

The dynamics of a simple piecewise linear model of a socialist economy is studied. The simple model contains Hicksian-type nonlinearities and produces different new phenomena. Stable cycles, chaotic and quasi-periodic behavior are demonstrated. The dependence of the model on the control parameters is further investigated upon which border-crossing bifurcations are encountered. Future research into fitting piecewise linear models to economic data and studying its dynamics is suggested.

Economic aspects, Socialism

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Chaotic dynamics in a two-dimensional overlapping generations model

Article Abstract:

A two-dimensional Diamond-type overlapping generations model is examined.

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A discrete and symmetric price adjustment process on the simplex

Article Abstract:

The tatonnement process in an exchange economy is examined.

Observations

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