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the behavior of noise traders or by realizing the difficulties in synchronizing their actions. We then end by discussing a … bifurcation (or phase transition) that rationalize what crash can occur in unstable market regimes. The key insight is that …
Persistent link: https://www.econbiz.de/10004976970
Article about the role of equilibrium in regional economic development and regional governance. The author proposes a system of index ratings disparities in socio-economic development of the regions of the Russian Federation.
Persistent link: https://www.econbiz.de/10011108564
We explore bifurcation phenomena in the open-economy New Keynesian model developed by Clarida, Gali and Gertler (2002 … behaviors and policy responses. Introducing parameters related to the open economy structure affects the values of bifurcation … parameters and changes the location of bifurcation boundaries. As a result, the stratification of the confidence region, as …
Persistent link: https://www.econbiz.de/10011109244
We explore bifurcation phenomena in the open-economy New Keynesian model developed by Gali and Monacelli (2005). We … behaviors and policy responses. Introducing parameters related to the open economy structure affects the values of bifurcation … parameters and changes the location of bifurcation boundaries. As a result, the stratification of the confidence region, as …
Persistent link: https://www.econbiz.de/10011111540
Article on the use of system analysis methodology for modeling socio-economic processes. The author justifies the methodological approach, based on dynamic analysis of exogenous processes in economic and social management practices. Particular attention is paid to the use of index indicators...
Persistent link: https://www.econbiz.de/10011111949
parameter space. We derive the long run growth rate of the economy and do a detailed bifurcation analysis of the equilibrium. We … important to recognize that bifurcation boundaries do not necessarily separate stable from unstable solution domains …. Bifurcation boundaries can separate one kind of unstable dynamics domain from another kind of unstable dynamics domain, or one …
Persistent link: https://www.econbiz.de/10011257703
. We examine the stability properties of both versions of the model and locate Hopf and transcritical bifurcation … boundaries. In an extended analysis, we investigate the existence of Andronov-Hopf bifurcation, branch point bifurcation, limit … point cycle bifurcation, and period doubling bifurcations. While these all are local bifurcations, the presence of global …
Persistent link: https://www.econbiz.de/10011260401
In systems theory, it is well known that the parameter spaces of dynamical systems are stratified into bifurcation … bifurcation boundaries is normal and should be expected from most dynamical systems, whether linear or nonlinear. Bifurcation … boundaries in parameter space are not evidence of model defect. While existence of such bifurcation boundaries is well known in …
Persistent link: https://www.econbiz.de/10011265341
period of world economic bifurcation. …
Persistent link: https://www.econbiz.de/10011113674
This paper analyses the dynamics of a Cournot duopoly under cross-ownership participation when players have heterogeneous, i.e. bounded rational and naïve, expectations. We find that when the shareholder that owns firm also holds a percentage of firm , the parametric stability region of the...
Persistent link: https://www.econbiz.de/10009367980