Yano, Makoto; Sato, Kenji; Furukawa, Yuichi - Institute of Economic Research, Kyoto University - 2010
This study investigates the observability of chaotic economic dynamics in the Matsuyama model of endogenous growth with innovation and capital accumulation. We demonstrate that the Matsuyama system can be an ergodic chaos for a wide range of parameter values; as is well known, in an ergodic...