Economics Dynamics Problems 111

Economics Dynamics Problems 111 - relation gives the next...

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Discrete dynamic systems 95 Figure 3.5. Figure 3.6. off the E-line. And so on. It would appear , therefore, that y = 1 is an attractor. Even if y 0 is above y = 1, the system appears to converge on y = 1. Similarly, y = 0 appears to be a repellor. It is useful to use a spreadsheet not only to establish the sequence { y n } , but also to graph the situation. A spreadsheet is ideal for recursive equations because the
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Unformatted text preview: relation gives the next element in the sequence, and for given initial values, the sequence is simply copied to all future cells. A typical spreadsheet for the present example is illustrated in Fgure 3.8, where we have identiFed the formulas in the initial cells....
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This note was uploaded on 12/14/2011 for the course ECO 3023 taught by Professor Dr.gwartney during the Fall '11 term at FSU.

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