haku: @author Kaas, L. / yhteensä: 6
viite: 5 / 6
| Tekijä: | Kaas, L. |
| Otsikko: | Stabilizing chaos in a dynamic macroeconomic model |
| Lehti: | Journal of Economic Behavior and Organization
1998 : JAN 15, VOL. 33:3-4, p. 313-332 |
| Asiasana: | MODELS ECONOMIC BEHAVIOUR CHAOS |
| Kieli: | eng |
| Tiivistelmä: | Within a macroeconomic disequilibrium model it turns out that stationary and simple adaptive policies are not capable of stabilizing efficient steady states and lead to periodic or irregular fluctuations for large sets of policy parameters. The application of recent control methods for chaotic dynamic systems shows that the government can, in principle, stabilize an unstable Walrasian equilibrium in a short time by varying income tax rates or government expenditures. |
SCIMA