Beyond the Accelerating Inflation Controversy: the Jerk and Jounce Price Variation

Bella, Giovanni

2017-01-01

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Abstract

The aim of this paper is to re-interprete the accelerationist Phillips curve, by studying the effect of the higher-order derivatives of acceleration. We show that a complex dynamic behavior emerges when dealing with a jerk and jounce displacement of price settings, whose simple unfolding leads to a three dimensional vector field which generates a double-scroll chaotic attractor.