Keynesian Chaos |
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| Authors: | Richard H. Day Wayne Shafer |
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| Affiliation: | The Netherlands Institute for Advanced Study The Netherlands;University of Southern California, USA |
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| Abstract: | This paper shows how nonperiodic fluctuations can emerge in the standard fix price macroeconomic model when induced investment is strong enough. Specific functional forms are used to illustrate the phenomenon and to compute numerical evidence that nonperiodic fluctuations need not be rare. |
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