Renormalization method and its economic applications
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The purpose of this paper is to give new insights of the method of Helleman (1980) in the context of macrodynamics. This method explains how a difference equation can be locally studied from the Feigenbaum equation in the case of a constant Jacobian matrix. First we introduce this technique. Second we apply it in two models: the model of Matsuyama (1999) and the model of Kaldor (1957). Finally we present an extension of the technique in the case of non constant (linear) Jacobian matrix and apply this extension in the model of Médio (1992).
School of Economics and Finance discussion paper series ; 0110
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Previously in the University eprints HAIRST pilot service at http://eprints.st-andrews.ac.uk/archive/00000059/
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