Title of article
Money and external habit persistence: A tale for chaos
Author/Authors
Stéphane Auray، نويسنده , , Fabrice Collard، نويسنده , , Patrick Fève، نويسنده ,
Issue Information
روزنامه با شماره پیاپی سال 2002
Pages
7
From page
121
To page
127
Abstract
This paper studies the dynamic properties of a simple monetary economy model with external habit formation, in which money is used for transaction motives. We show that large enough (though reasonable) habit can generate deterministic cycles and chaotic equilibria.
Keywords
External habit , Deterministic cycles , Monetary economy , Chaos
Journal title
Economics Letters
Serial Year
2002
Journal title
Economics Letters
Record number
434969
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