Tools
Tools
Auray, Stéphane
, Collard, Fabrice and Fève, Patrick
(2002)
Money and External Habit Persistence : A Tale for Chaos.
Economics Letters, 76 (1).
pp. 121-127.
Official URL : http://tse-fr.eu/pub/2047
Identification Number : 10.1016/S0165-1765(02)00035-6
Abstract
This paper studies the dynamic properties of a simple monetary economy model with external habit formation, in which money is used for transaction motives. We show that large enough (though reasonable) habit can generate deterministic cycles and chaotic equilibria.
| Item Type: | Article |
|---|---|
| Language: | English |
| Date: | 2002 |
| Refereed: | Yes |
| Subjects: | B- ECONOMIE ET FINANCE |
| Divisions: | TSE-R (Toulouse) |
| Site: | UT1 |
| Date Deposited: | 18 Jan 2012 05:46 |
| Last Modified: | 02 Apr 2021 15:33 |
| OAI Identifier: | oai:tse-fr.eu:2047 |
| URI: | https://publications.ut-capitole.fr/id/eprint/1253 |
