Stability, instability and complex behavior in macrodynamic models with policy lag
We construct simple macrodynamic models with policy lag by means of mixed difference and differential equations, and study how lags in policy response affect the macroeconomic (in)stability. Local dynamics of the prototype model are studied analytically, and the global dynamics of the prototype and...
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| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Wiley
2000-01-01
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| Series: | Discrete Dynamics in Nature and Society |
| Subjects: | |
| Online Access: | http://dx.doi.org/10.1155/S1026022600000583 |
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