Homoclinic and Heteroclinic Motions in Economic Models with Exogenous Shocks
and | Jan 01, 2016
Published Online: Jan 01, 2016
Page range: 1 - 10
Received: Jun 01, 2015
Accepted: Oct 25, 2015
DOI: https://doi.org/10.21042/AMNS.2016.1.00001
Keywords
© 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.