Abstract This paper challenges the robustness of policy propositions of the New Economic Geography. Simply altering the temporal framework of the Footloose Entrepreneur model implies that the system can exhibit periodic cycles, chaotic orbits or agglomeration. Minute changes in a tax or subsidy...

The purpose of this paper is to study the dynamic interaction between economic growth and unemployment in a general model of economic growth. Labour market disequilibrium is introduced through a non-market real wage clearing modeled by a non linear Phillips Curve. We show that unemployment rate...

Numerical experiments with the standard map at high values of the stochasticity parameter reveal the existence of simple analytical relations connecting the volume and the dynamical temperature of the chaotic component of the phase space.

We investigate the “compass rose” patterns introduced by Crack and Ledoit (J. Finance 51(2)(1996) 751) as revealed in phase portraits (delay plots) of stock returns. The structures observed in these diagrams have been attributed mainly to price clustering and discreteness and the tick size....

This paper analyzes the role of financial development as a source of endogenous instability in small open economies. By assuming that firms face credit constraints, our model displays a complex dynamic behavior for intermediate values of the parameter representing the level of financial...