Model of Price Dynamics and Chaos

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F67985556%3A_____%2F13%3A00392967" target="_blank" >RIV/67985556:_____/13:00392967 - isvavai.cz</a>

Result on the web

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DOI - Digital Object Identifier

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Result language

angličtina

Original language name

Model of Price Dynamics and Chaos

Original language description

To reconstruct the neoclassical theory of inflation to obtain a model which generates non-periodical oscillations of price level which is considered to be a realistic approximation of actual price level evolution. Analysis with the Fisherian equation ofexchange. The assumption on non-variability of the velocity of money circulation parameter is relaxed in favour of dependence on expected inflation. Model of inflation is a two-equation model where price evolution depends on production dynamics which isassumed to be an exogeneous variable. By adding Kaldor's model to the two equation systm a four equation model is formed.Constructed model is able to generate more complex dynamics i.e. non-linear cycles and chaos.

Czech name

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Czech description

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Type

J_x - Unclassified - Peer-reviewed scientific article (Jimp, Jsc and Jost)

CEP classification

AH - Economics

OECD FORD branch

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Project

<a href="/en/project/GBP402%2F12%2FG097" target="_blank" >GBP402/12/G097: DYME-Dynamic Models in Economics</a><br>

Continuities

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Publication year

2013

Confidentiality

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Name of the periodical

Prague Economic Papers

ISSN

1210-0455

e-ISSN

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Volume of the periodical

22

Issue of the periodical within the volume

3

Country of publishing house

CZ - CZECH REPUBLIC

Number of pages

27

Pages from-to

358-384

UT code for WoS article

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EID of the result in the Scopus database

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