Homoclinic and Heteroclinic Motions in Economic Models with Exogenous Shocks

• Marat Akhmet ^[1] ; Mehmet Onur Fen ^[2]
  1. [1] Middle East Technical University

     Middle East Technical University

     Turquía

     
  2. [2] Georgia State University

     Georgia State University

     Estados Unidos

     
• Localización: Applied Mathematics and Nonlinear Sciences, ISSN-e 2444-8656, Vol. 1, Nº. 1, 2016, págs. 1-10
• Idioma: inglés
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• Resumen

  • 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.