Cycles in Nonlinear Macroeconomics

TL;DR

This paper explores the emergence and stability of cycles in nonlinear macroeconomic models, focusing on self-organization and structural instability within open, nonequilibrium economic systems.

Contribution

It introduces a synergetic approach to analyze limit cycles and complex periodic structures in classical macroeconomic models.

Findings

Identification of conditions for cycle generation

Analysis of stability of economic limit cycles

Insights into self-organization in economic dynamics

Abstract

The monograph is concerned with some key problems of the theory of nonlinear economic dynamics. The authors' concept consists in analyzing the problem of structural instability of economic systems within the framework of the synergetic paradigm. As examples, the classical models of macroeconomics are considered. The authors present the results of the study of the phenomenon of self-organization in open and nonequilibrium economic systems. The generation of limit cycles, as well as of more complex periodic structures, is discussed; the character of their stability is examined.