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Elementary tools for dynamics

In: Income Distribution, Growth and Unemployment

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Abstract

This Chapter introduces some elementary tools to deal with dynamics, which is considered in the discrete version. It is well known that there is curse of dimensionality on the subject in the sense that analytical results can only be proved for low dimensional system. This is the reason why the analysis will be mainly carried out by means of numerical simulations. However, sometime it can be useful to study what happens at these low dimensions. The Chapters helps working with nonlinear systems by referring to linearized systems approached by a local perspective, around the steady state. It helps understanding the process of bifurcation, which is at the base of most of bounded and persistent processes obtained in the book.

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  • ., 2022. "Elementary tools for dynamics," Chapters, in: Income Distribution, Growth and Unemployment, chapter 3, pages 36-48, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:21213_3
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