On growing through cycles: Matsuyama’s M-map and Li–Yorke chaos

B-Tier
Journal: Journal of Mathematical Economics
Year: 2018
Volume: 74
Issue: C
Pages: 46-55

Authors (2)

Deng, Liuchun (not in RePEc) Khan, M. Ali (Johns Hopkins University)

Score contribution per author:

1.005 = (α=2.01 / 2 authors) × 1.0x B-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

Recent work of Gardini et al. (2008), building on earlier work of Mitra (2001) and Mukherji (2005), considers the so-called M-map that generates a dynamical system underlying Matsuyama’s (1999) endogenous growth model. We offer proofs of the fact that there do not exist 3- or 5-period cycles in the M-map, and an example (a numerical proof) of the existence of a 7-period cycle. We use the latter, and a construction in Khan and Piazza (2011), to identify a range of parameter values of the M-map that guarantee the existence of cycles of all periods, except 3 and 5. Our argumentation relies on, and reports, the first four iterations of the M-map that may have independent interest.

Technical Details

RePEc Handle
repec:eee:mateco:v:74:y:2018:i:c:p:46-55
Journal Field
Theory
Author Count
2
Added to Database
2026-01-25