Chaotic, Aperiodic Behaviour from Forced Oscillators

Richard M. Goodwin

in Chaotic Economic Dynamics

Published in print November 1990 | ISBN: 9780198283355
Published online November 2003 | e-ISBN: 9780191596315 | DOI:
 Chaotic, Aperiodic Behaviour from Forced Oscillators

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An overview of the mathematics of forced oscillators, particularly the van der Pol model is presented. Following this, Goodwin argues that such models are relevant to economics given that each part of the economy is subject to exogenous forces, from movements of world markets to the solar cycle. An exogenous cycle is imposed upon a Rössler model. This alters the phase portrait and corresponding time series. A significant increase in chaotic behaviour can result.

Keywords: chaotic behaviour; exogenous forcing; forced oscillators; Rössler model; van der Pol model

Chapter.  1813 words.  Illustrated.

Subjects: Macroeconomics and Monetary Economics

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