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• W1973830842 abstract "We investigate the generation of chaos in economic models through exogenous shocks. The perturbation is formulated as a pulse function where either values or instants of discontinuity are chaotically behaved. We provide a rigorous proof of the existence of chaos in the perturbed model. The analytical results are applied to Kaldor–Kalecki-type models of the aggregate economy subject to export and rainfall shocks, respectively. Simulations are used to demonstrate the emergence and the control of chaos. Our results shed light on a novel source of chaos in economic models and have important implications for policy-making." @default.
• W1973830842 created "2016-06-24" @default.
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• W1973830842 date "2014-10-01" @default.
• W1973830842 modified "2023-10-02" @default.
• W1973830842 title "Chaos in economic models with exogenous shocks" @default.
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• W1973830842 doi "https://doi.org/10.1016/j.jebo.2014.06.008" @default.
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