The inverse limits approach to chaos (Q949648)

As an area in topology, inverse limits has its origins in the 1920s and since the 1950s has been very useful as means of constructing ``pathological'' continua. However, since the 1980s there is a growing literature that looks at the connection between inverse limits and topological dynamics. In this paper, the authors review some results from this literature and apply them to the cash-in-advance model of money. In particular, they analyze the inverse limit of the cash-in-advance model of money and illustrate how information about the inverse limit is useful for detecting or ruling out complicated dynamics.