Global Analysis of Dynamic Models in Economics and Finance
Essays in Honour of Laura Gardini
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Article
Open AccessCorrection to: Bifurcation structures of a two-dimensional piecewise linear discontinuous map: analysis of a cobweb model with regime-switching expectations
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Article
1D Piecewise Smooth Map: Exploring a Model of Investment Dynamics under Financial Frictions with Three Types of Investment Projects
We consider a 1D continuous piecewise smooth map, which depends on seven parameters. Depending on the values of parameters, it may have up to six branches. This map was proposed by Matsuyama [Theor. Econ., 8, 623...
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Article
Open AccessBifurcation structures of a two-dimensional piecewise linear discontinuous map: analysis of a cobweb model with regime-switching expectations
We consider the bifurcations occurring in a two-dimensional piecewise-linear discontinuous map that describes the dynamics of a cobweb model in which firms rely on a regime-switching expectation rule. In three...
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Chapter and Conference Paper
Border Collision and Heteroclinic Bifurcations in a 2D Piecewise Smooth Map
We consider a 2D piecewise smooth map originating from an application (acting as a discrete-time model of a DC/DC converter with pulse-width modulated multilevel control). We focus on several non-trivial trans...
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Article
Dynamics of a business cycle model with two types of governmental expenditures: the role of border collision bifurcations
We reconsider the multiplier–accelerator model of business cycles, first introduced by Samuelson and then modified by many authors. The original simple model, besides damped oscillations, also leads to diverge...
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Chapter and Conference Paper
Ultrasonic Cavitation Equipment with a Liquid Pressure Transformer
High-intensity ultrasonic vibrations allow to intensify many physical and chemical processes in liquids. In particular, high-intensity ultrasonic vibrations allow efficiently removing the dissolved gases from ...
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Article
Open AccessCodimension-two border collision bifurcation in a two-class growth model with optimal saving and switch in behavior
We consider a two-class growth model with optimal saving and switch in behavior. The dynamics of this model is described by a two-dimensional (2D) discontinuous map. We obtain stability conditions of the borde...
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Chapter and Conference Paper
Bifurcations in Smooth and Piecewise Smooth Noninvertible Maps
In the present chapter we recall some basic concepts and results associated with the local and global bifurcations of attractors and their basins in smooth and nonsmooth noninvertible maps, continuous and disc...
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Article
A piecewise linear model of credit traps and credit cycles: a complete characterization
We reconsider a regime-switching model of credit frictions which has been proposed in a general framework by Matsuyama for the case of Cobb–Douglas production functions. This results in a piecewise linear map ...
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Chapter and Conference Paper
Emerging Trade Patterns in a 3-Region Linear NEG Model: Three Examples
This chapter draws attention to a specific feature of a NEG model that uses linear (and not iso-elastic) demand functions, namely its ability to account for zero trade. Thus, it represents a suitable framework...
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Article
The role of centrality and market size in a four-region asymmetric new economic geography model
In this paper, we put forward a four-region new economic geography footloose entrepreneur model in which regions are differentiated by their size and their geographical position along a line. There are two dis...
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Article
Dynamics of a minimal consumer network with uni-directional influence
In a model of interdependent consumer behavior due to (Econ Lett 27(2):145–150 1988, J Econ Behav Organ 21(2):223–231 1993) an individual adjusts his preferences in response to his own past consumption decisions ...
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Chapter and Conference Paper
Alternating Smooth and Nonsmooth Bifurcations in a Discontinuous Linear-Power Map
We study the dynamics of a one dimensional discontinuous linear-power map. It has a vertical asymptote giving rise to new kinds of border collision bifurcations. We explain the peculiar periods of attracting c...
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Chapter
Periodicity Induced by Production Constraints in Cournot Duopoly Models with Unimodal Reaction Curves
In the Cournot duopoly game with unimodal piecewise-linear reaction functions (tent maps) proposed by Rand (J Math Econ, 5:173–184, 1978) to show the occurrence of robust chaotic dynamics, a maximum production co...
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Chapter
Trade Agreements and Regional Disparities
The treaty of Rome was signed in 1957 and it started a continuous process of strengthening the internal integration of the EU. In this study, we consider the economic effects of intensified trade integration w...
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Chapter and Conference Paper
Some Dynamical Models in Regional Economics: Economic Structure and Analytic Tools
This chapter aquaints the reader with the use of dynamic models in regional economics. The focus is on the New Economic Geography (NEG) approach. A brief comparison is provided between NEG and other economic a...
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Chapter
Bifurcation Structure in a Model of Monetary Dynamics with Two Kink Points
In this paper, we consider the discrete version of the Sargent & Wallace (Econometrica 41:1043–1048, 1973) model with perfect foresight. We assume a piecewise linear money demand function, decreasing over a “n...
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Book
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Chapter
A Gallery of Bifurcation Scenarios in Piecewise Smooth 1D Maps
We give a brief overview of several bifurcation scenarios occurring in 1D piecewise monotone maps defined on two partitions, continuous or discontinuous. A collection of some basic blocks is proposed, which ma...
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Chapter
A Goodwin-Type Model with a Piecewise Linear Investment Function
