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Business-cycle models and the dangers of linearizing
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Kozlovski, O., Pintus, P., van Strien, S. and de Vilder, R.. (2006) Business-cycle models and the dangers of linearizing. JOURNAL OF OPTIMIZATION THEORY AND APPLICATIONS, 128 (2). pp. 333-353. ISSN 0022-3239
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Official URL: http://dx.doi.org/10.1007/s10957-006-9019-6
Abstract
This paper studies the consequences of linearizing nonlinear business-cycle models near their interior steady state. It is shown that dynamic objects, created for example in a Bogdanov-Takens bifurcation, may be lost in the linearization procedure. Sufficient conditions are provided ensuring the absence of various dynamic features in the nonlinear version of the model.
| Item Type: | Journal Article |
|---|---|
| Subjects: | H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management Q Science > QA Mathematics |
| Journal or Publication Title: | JOURNAL OF OPTIMIZATION THEORY AND APPLICATIONS |
| Publisher: | SPRINGER/PLENUM PUBLISHERS |
| ISSN: | 0022-3239 |
| Date: | February 2006 |
| Volume: | 128 |
| Number: | 2 |
| Number of Pages: | 21 |
| Page Range: | pp. 333-353 |
| Identification Number: | 10.1007/s10957-006-9019-6 |
| Publication Status: | Published |
| URI: | http://wrap.warwick.ac.uk/id/eprint/33096 |
Data sourced from Thomson Reuters' Web of Knowledge
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