The paper shows that in the economy described by Miao and Wang (2015), with financial bubbles emerging in the banking sector, a Shilnikov chaotic attractor giving rise to unpredictable global indeterminacy can appear when the bubble bursts, resulting in a financial crisis. In this case, a suitable policy algorithm to eliminate or control the chaotic dynamics is proposed.
|Titolo:||Chaos control in presence of financial bubbles|
BELLA, GIOVANNI (Corresponding)
|Data di pubblicazione:||2020|
|Tipologia:||1.1 Articolo in rivista|