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Although nonlinearity is the rule in economic theory, nonlinearity tends to make life difficult for econometricians. While there have been many advances in nonlinear econometrics in recent years, some problems produced by nonlinearity remain 'skeletons in the closet' in empirical economic...
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dynamical complexity, characterizing chaos and near chaos, as commonly found in the physical sciences. The paper also surveys … complexity, chaos, and other related concepts precise, having in mind their (actual or potential) applications to economically … policy relevancy of chaos. …
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