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Economics Dynamics Problems 228

# Economics Dynamics Problems 228 - 212 Economic Dynamics...

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212 Economic Dynamics Figure 5.1. i.e. x t + 1 x = − 7 . 7526(0 . 7262) t + 3 . 3526( 0 . 8262) t y t + 1 y = − 13 . 3827(0 . 7262) t + 5 . 827( 0 . 8262) t This procedure does give insight into the dynamics and it is possible to plot the solutions. However, if interest is purely in the dynamics of the trajectory, this can be obtained immediately using a spreadsheet. Once the equations for x t + 1 and y t + 1 have been entered in the first cells they are then copied down for as many periods as is necessary and the { x t , y t } coordinates plotted on the x - y line plot, as shown in figure 5.1. This simple procedure also allows plots of x ( t ) and y ( t ) against time.
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