Abstract
This paper is an attempt to study, in the context of a simple macroeconomic model, the possible dynamic behaviors that can emerge as a consequence of increased trade relations. According to the different stages of the development and intensity of trade, it is shown that two economies might exhibit dynamic behaviors which lead to frequency locking and bifurcation cascades.
The simplicity of the model and the richness of its dynamic behavior suggests the importance of studying interdependent economies as coupled oscillators, and systems of economies as systems of parallel coupled oscillators.
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© 1997 Springer-Verlag Berlin Heidelberg
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Zambelli, S. (1997). Macroeconomic Interdependence and Frequency Locking. In: Conte, R., Hegselmann, R., Terna, P. (eds) Simulating Social Phenomena. Lecture Notes in Economics and Mathematical Systems, vol 456. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-662-03366-1_24
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DOI: https://doi.org/10.1007/978-3-662-03366-1_24
Publisher Name: Springer, Berlin, Heidelberg
Print ISBN: 978-3-540-63329-7
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