Money and external habit persistence -: A tale for chaos

被引：6

作者：

Auray, S

Collard, F

Fève, P

机构：

[1] Univ Nantes, Gremaq, UMR CNRS 5604, LEN C3E, F-31000 Toulouse, France

[2] Univ Toulouse, CNRS GREMAQ & IDEI, Toulouse, France

来源：

ECONOMICS LETTERS | 2002年 / 76卷 / 01期

关键词：

monetary economy; external habit; deterministic cycles; chaos;

D O I：

10.1016/S0165-1765(02)00035-6

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper studies the dynamic properties of a simple monetary economy model with external habit formation, in which money is used for transaction motives. We show that large enough (though reasonable) habit can generate deterministic cycles and chaotic equilibria. (C) 2002 Elsevier Science B.V. All rights reserved.

引用

页码：121 / 127

页数：7

共 10 条

[1]

ABEL AB, 1990, AM ECON REV, V80, P38

[2] TIME NONSEPARABILITY IN AGGREGATE CONSUMPTION - INTERNATIONAL EVIDENCE [J].