Simulation of disequilibrium and chaos in aggregates of disposable income, wealth, and consumption in EU macroeconomics using nonlinear dynamic analysis
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DOI: 10.1177/00375497221130100
Abstract: Economic disequilibrium theory (DT) more realistically represents modern macroeconomic systems than general equilibrium theory. DT coupled with applied mathematical economics and nonlinear dynamical analysis generates multi-dimensional phase spaces. Interdependencies of endogenous variables in state space… read more here.
Keywords: using nonlinear; analysis; simulation disequilibrium; macroeconomics ... See more keywords