InterJournal Complex Systems, 150
Status: Submitted
Manuscript Number: [150]
Submission Date: 971215
Ragnar Frisch at the Edge of Chaos
Author(s): Francisco Louca

Subject(s): CX.06, CX.13, CX.43, CX.44

Category: Article


"Ragnar Frisch at the Edge of Chaos", submitted to the Proceedings o of the NECSI Nashua Conference, is an inquiry into a nonlinear model discussed by Frisch and Koopmans in 1935 and never published to this day. It proves that both Frisch and Koopmans were right: under some parametric values, the model delivers what Frisch asked for - the collapse of free trade -, while under other values it indicates the persistence of the capitalist mode of trade. Some of the chaotic features of this model, which were ignored by its authors although they suspected its strange behaviour, are highlighted in the paper.

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