Abstract

CHAPARRO GUEVARA, GRACIELA  and  ESCOT MANGAS, LORENZO. CONTROL OF CHAOTIC DYNAMICAL SYSTEMS IN ECONOMICS: APPLICATION IN A HYPERINFLATION MODEL. Finanz. polit. econ. [online]. 2015, vol.7, n.1, pp.131-145. ISSN 2248-6046.  https://doi.org/10.14718/revfinanzpolitecon.2015.7.1.7.

This article examines control of chaotic behavior in a dynamic hyperinflation system using a method proposed by Ott, Grebogi, and Yorke (1990) (OGY method), which seeks to control the chaotic dynamic by slightly perturbing some of the system's parameters. An example of the method is given through logistic application, and it is subsequently applied in a hyperinflation model (Punita, 2011) to stabilize prices in a stationary one-period orbit.

Keywords : control of chaos; OGY method; hyperinflation.

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