Money and external habit persistence. A tale for chaos

Stéphane Auray; Fabrice Collard; Patrick Fève

doi:10.1016/S0165-1765(02)00035-6

Money and external habit persistence. A tale for chaos

Stéphane Auray, Fabrice Collard, Patrick Fève

Research output: Contribution to journal › Article › peer-review

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.

Original language	English
Pages (from-to)	121-127
Number of pages	7
Journal	Economics Letters
Volume	76
Issue number	1
DOIs	https://doi.org/10.1016/S0165-1765(02)00035-6
Publication status	Published - 1 Jun 2002
Externally published	Yes

Keywords

Chaos
Deterministic cycles
External habit
Monetary economy

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10.1016/S0165-1765(02)00035-6

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title = "Money and external habit persistence. A tale for chaos",

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.",

keywords = "Chaos, Deterministic cycles, External habit, Monetary economy",

author = "St{\'e}phane Auray and Fabrice Collard and Patrick F{\`e}ve",

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T1 - Money and external habit persistence. A tale for chaos

AU - Auray, Stéphane

AU - Collard, Fabrice

AU - Fève, Patrick

PY - 2002/6/1

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N2 - 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.

AB - 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.

KW - Chaos

KW - Deterministic cycles

KW - External habit

KW - Monetary economy

U2 - 10.1016/S0165-1765(02)00035-6

DO - 10.1016/S0165-1765(02)00035-6

M3 - Article

AN - SCOPUS:0036613280

SN - 0165-1765

VL - 76

SP - 121

EP - 127

JO - Economics Letters

JF - Economics Letters

IS - 1

ER -

Money and external habit persistence. A tale for chaos

Abstract

Keywords

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