Emulating a Chaotic Economic Model by Using A Microcontroller

Abstract

In this work, for the first time a macroeconomic model has been emulated using a microcontroller-based device, considering as case study the Greek economic crises of period 2010-2019. With the use of well-known tools from nonlinear theory, such as phase portrait, bifurcation diagram, Poincaré map and Lyapunov exponents, interesting phenomena have been revealed. More precisely, the period-doubling route to chaos, crisis phenomena and coexistence of attractors have been presented in detail. © 2021 IEEE.