This paper, following Kaldor's approach, is written with the intention of interpreting fluctuations of economic systems (i.e trade cycles). In particular, a new discretized Kaldor model is proposed, which is also useful to explain what appears to be random and unpredictable, such as economic shocks. Moreover, by using numerical analysis, the chaoticity of the model is demonstrated.
A discrete mathematical model for chaotic dynamics in economics: Kaldor's model on business cycle
Orlando G.
Writing – Original Draft Preparation
2016
Abstract
This paper, following Kaldor's approach, is written with the intention of interpreting fluctuations of economic systems (i.e trade cycles). In particular, a new discretized Kaldor model is proposed, which is also useful to explain what appears to be random and unpredictable, such as economic shocks. Moreover, by using numerical analysis, the chaoticity of the model is demonstrated.File in questo prodotto:
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