Numerical Exploration of Kaldorian Macrodynamics: Enhanced Stability and Predominance of Period Doubling and Chaos with Flexible Exchange Rates

Figure 6.6

Graphical evidence of subcriticality of the Hopf bifurcation for 𝑍=50,𝛽=5. Left: three successive attractors (the first being a point) for 𝛼=0.363380,0.363385,0.363390. Right: the same for 𝛼=0.3645,0.3650,0.3655. Projections in the (𝐾,𝐸) plane.

(a)

(b)