Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/186721 
Authors: 
Year of Publication: 
1989
Series/Report no.: 
Working Paper No. 30
Publisher: 
Levy Economics Institute of Bard College, Annandale-on-Hudson, NY
Abstract: 
This paper develops a discrete, nonlinear growth cycle model for a macroeconomy. The nonlinearities, which correspond to empirical relationships between profitability and capacity utilization in the postwar U.S. economy, can produce stable, periodic and chaotic behavior. These behaviors are established analytically, and further investigated through simulation. Data from the simulations are used to show that chaotic attractors can produce time series which are useful representations of business cycles.
Document Type: 
Working Paper

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