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Economics Dynamics Problems 114

Economics Dynamics Problems 114 - 98 Economic Dynamics...

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98 Economic Dynamics Figure 3.9. Example 3.1 y t + 1 = 2 y t y 2 t The fixed points can be found from a = 2 a a 2 a 2 a = 0 a ( a 1) = 0 a = 0 and a = 1 To establish stability, let y = f ( x ) = 2 x x 2 then f ( x ) = 2 2 x f (0) = 2 and f (1) = 0 Since f
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