Homoclinic and Heteroclinic Motions in Economic Models with Exogenous Shocks
y | 01 ene 2016
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Publicado en línea: 01 ene 2016
Páginas: 1 - 10
Recibido: 01 jun 2015
Aceptado: 25 oct 2015
DOI: https://doi.org/10.21042/AMNS.2016.1.00001
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© 2016 Marat Akhmet, Mehmet Onur Fen, published by Sciendo
This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.
In this study, we theoretically prove the presence of homoclinic and heteroclinic motions in the dynamics of economic models perturbed with exogenous shocks. An illustrative example based on the Kaldor model of the aggregate economy is presented.