Article ID Journal Published Year Pages File Type
7349266 Economics Letters 2018 13 Pages PDF
Abstract
This letter reports an easy extension of Mitra's “easily verifiable” sufficient condition for topological chaos in unimodal maps, and offers its application to reduced-form representations of two economic models that have figured prominently in the recent literature in economic dynamics: the check- and the M-map pertaining to the 2-sector Robinson-Solow-Srinivasan (RSS) and Matsuyama models respectively. A consideration of the iterates of these maps establishes the complementarity of the useful 2001 condition with the 1982 (LMPY) theorem of Li-Misiurewicz-Pianigiani-Yorke when supplemented by a geometric construction elaborated in Khan-Piazza (2011).
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Social Sciences and Humanities Economics, Econometrics and Finance Economics and Econometrics
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