2 papers
math.DS2017
A continuum of path-dependent equilibrium solutions induced by sticky expectations
Pavel Krejci, Eyram Kwame, Harbir Lamba +1
We analyze a simple macroeconomic model where rational inflation expectations is replaced by a boundedly rational, and genuinely sticky, response to changes in the actual inflation…
math.DS2016
Dynamics of Discrete Time Systems with a Hysteresis Stop Operator
Maxim Arnold, Nikita Begun, Pavel Gurevich +3
We consider a piecewise linear two-dimensional dynamical system that couples a linear equation with the so-called stop operator. Global dynamics and bifurcations of this system are…