Dynamical systems arising from infinite time horizon optimization models

We study cycles and chaos in economic models. Autonomous dynamical systems are considered through infinite time horizon optimization models. We first show how endogenous fluctuations arise in a multisector optimal growth mode l. Secondly, we consider an extension of this model by allowing direct infl uences of the production activity among agents. This is what economists cal l external effects. We show how indeterminacy, i.e., a multiplicity of equi librium paths from the same initial point, appears.