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Economics

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Chaotic dynamics in a cash-in-advance economy

Article Abstract:

Chaotic equilibria are most likely to occur in cash-in-advance models due to their distinct characteristic related to real balances. Cash-in-advance models are found to illustrate a discontinuous derivative in the difference equation map at real balances' satiation level. Chaotic equilibria may occur even in the absence of large curvatures in the utility functions mainly because of the presence of a kink.

Economics, Research and Development in the Social Sciences and Humanities, Chaos theory, Chaotic systems

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Testing for sunspot equilibria in the German hyperinflation

Article Abstract:

An analysis of the 1923 German hyperinflation is presented. The analysis focuses on market fundamentals or sunspots based on linear rational expectations as possible sources of hyperinflation. It is shown that theoretical considerations describe hyperinflations as movements along a stochastic Laffer curve. In addition, market fundamentals are shown to be the primary sources of data explosiveness.

Germany, Inflation (Finance), Inflation (Economics)

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On information and market dynamics: The case of the U.S. beef market

Article Abstract:

Market dynamics in the US beef market are examined.

Beef industry

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