A proof of chaos in the hysteretic Kaldor model
نویسنده
چکیده
The Kaldor model of the business cycle is modified by the incorporation of a Preisach nonlinearity. The development of the resulting hysteretic Kaldor model is outlined. A number of technical challenges had to be overcome in order to arrive at qualitative results on the dynamics of this model, and these are discussed along with their solutions. This paper then presents a rigorous proof of chaotic behaviour, including the existence of periodic orbits of all minimal periods p > 57. ∗This research was supported by the IRCSET Embark Initiative Postgraduate Funding Scheme 1The results included in this paper were presented at the Fifth International Symposium on Hysteresis and Micromagnetic Modeling, held in Budapest, Hungary, in May 2005.
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