Abstract

GUZMAN, José Ramón. Chaos within a dynamic model of two sectors. Inv. Econ [online]. 1999, vol.59, n.228, pp.45-96. ISSN 0185-1667.

There is chaos in a non-lineal dynamic model of input-ouput, when defined according to the endogenous variables of price (p), quantity (x), and the average rate of earnings (ø). Several pre-suppositions are taken for granted with this model. The first is that salaried workers do not have savings. The second pre-supposition refers to the classic conditions in the balance between quantity and value. The third is that a non-lineal, iterative model exists with which to calculate prices and average rate of earnings. The chaos is generated when considering the iterative link between the variables (p, ø).

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