On nonlinear theories of economic cycles and the persistence of business cycles |
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| Affiliation: | 1. Institute of Solid State Physics RAS, Chernogolovka, Russian;2. Institute of Microelectronics Technology and High Purity Materials RAS, Chernogolovka, Russian;3. National Research Nuclear University "MEPhI", Moscow, Russia |
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| Abstract: | This paper explores the dynamical structure of various linear and nonlinear theories of economic cycles. It focuses, Fin particular, on the importance of limit cycle theories for macroeconomic dynamics. It develops and simulates a model of self-sustained cycles and demonstrates the existence of a limit cycle by utilizing the Poincare´-Bendixson theorem. |
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