Flight-test data of helicopters indicate that vibratory levels in the fuselage exhibit a wide spectrum of frequencies, including a few below the rotor revolutions per minute. It is well known that helicopter blades operate in a complex aerodynamic environment, involving time-varying heave, pitch, and pulsating oncoming flow. During operation, some sections of the rotor blade undergo dynamic stall once in a revolution. This paper attempts to understand the reason for the existence of several frequencies in the response of the fuselage and the possible cause for this observed phenomenon by analyzing the effects of dynamic stall and aeroelastic couplings on the response of 2-D airfoil. The ONERA dynamic stall model developed by Petot is modified by incorporating a higher-order rational approximation of Theodorsen's lift deficiency function. This improved model is shown to provide a better correlation with experimental stall data. The response characteristics of a 2-D airfoil undergoing pitching and plunging motion in a pulsating oncoming flow, simulating the response of a cross section of a helicopter rotor blade in forward flight are analyzed. This study shows significant difference in the response characteristics of the airfoil for unsteady (dynamic stall model) and quasi-steady aerodynamic models. It is observed that the nonlinear aerodynamics (dynamic stall effects) in association with aeroelastic couplings above a certain level lead to a bounded chaotic motion of the airfoil.