Political economic chaos?

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Abstract

This paper investigates the political business cycle when interest group pressure on fiscal policy is incorporated. Two cases are investigated; one in which only autonomous investment is included and- one in which a Kaldor-type induced investment function is incorporated. In both cases chaotic fluctuations can emerge even when the politically motivated fiscal "forcing term" is fairly small.

Original languageEnglish
Pages (from-to)213-221
Number of pages9
JournalJournal of Economic Behavior and Organization
Volume27
Issue number2
DOIs
Publication statusPublished - 1995 Jul

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Keywords

  • Economic chaos
  • Forced oscillations
  • Political business cycle
  • Ueda's chaotic attractor

ASJC Scopus subject areas

  • Economics and Econometrics
  • Organizational Behavior and Human Resource Management

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