Some notes on the structure of limit sets in IS-LM models
Title | Some notes on the structure of limit sets in IS-LM models |
Publication Type | Journal Article |
Year of Publication | 2014 |
Authors | Bella, G, Mattana, P, Venturi, B |
Journal | PROCEDIA: SOCIAL & BEHAVIORAL SCIENCES |
Volume | 108 |
Pagination | 260–269 |
Abstract | We analyze the global dynamics of the solutions of a general non-linear fixed-price disequilibrium IS-LM model, where the investment function avoids any Kaldor-type assumption. The structure of the limit sets of the model with a third order non linearity is studied. We use rigorous arguments to show that, as the bifurcation parameters vary, a wide range of dynamical behavior is displayed. |
DOI | 10.1016/j.sbspro.2013.12.836 |