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The main task of this work is to develope a model able to encompass, at the same time, Keynesian, demand-driven, and Marxian, profit-driven determinants of fluctuations. Our starting point is the Goodwin's model (1967), rephrased in discrete time and extended by means of a coupled dynamics...
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Chaos theory reveals structure in aperiodic, dynamic systems. The number of nonlinear business cycle models use chaos … theory to explain complex motion of the economy. The basic aim of this paper is to provide a relatively simple chaotic …
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