Vošvrda, Miloslav; Baruník, Jozef - In: Politická ekonomie 2008 (2008) 6, pp. 759-771
We show that the cusp catastrophe model explains the crash of stock exchanges much better than other models. On the data of U.S. stock markets we demonstrate that the crash of 1987 may be better explained by cusp catastrophe theory, which is not true for the crash of 2001. With the help of...
