Existence of chaos in the plane R2 and its application in macroeconomics

作者：

Highlights：

• The existence of Devaney, Li–Yorke and distributional chaos in the plane R2.

• The chaos in a continuous dynamical system generated by Euler equation branching.

• All combinations of hyperbolic singular points of both branches admit chaos.

• The chaotic set of solutions associated with chaotic subset of R2 exists.

• New overall macroeconomic equilibrium model called IS-LM/QY-ML model.

• The existence of chaos in an economy.

摘要

•The existence of Devaney, Li–Yorke and distributional chaos in the plane R2.•The chaos in a continuous dynamical system generated by Euler equation branching.•All combinations of hyperbolic singular points of both branches admit chaos.•The chaotic set of solutions associated with chaotic subset of R2 exists.•New overall macroeconomic equilibrium model called IS-LM/QY-ML model.•The existence of chaos in an economy.

论文关键词：Euler equation branching,Chaos,IS-LM/QY-ML model,Economic cycle

论文评审过程：Available online 26 February 2015.

论文官网地址：https://doi.org/10.1016/j.amc.2015.01.095