The renormalization procedure facilitates the detection of periodic and chaotic patterns of many two-dimensional systems of nonlinear equations. We first give a comprehensive presentation of this procedure. We then generalize it to make it more applicable to economic frameworks. Copyright...

Cecchetti et al. (2006) develop a method for allocating macroeconomic performance changes among the structure of the economy, variability of supply shocks and monetary policy. We propose a dual approach of their method by borrowing well-known tools from the production theory.