The collapse of former communist regime in Central and Eastern Europe opened the transition period from centrally planned to market oriented economies. Thus, the exploration of economic systems in the special situation of transition has become an interesting research topic. The exposition plan...

The new business cycle three-dimensional model is formulated on the basis of new system approach known as the Method of Systems Potential. Cyclical dynamics with catastrophe jumps (alike to N.Kaldor (1940) model) and some stochastic properties is described. Properties of such cycles are similar...

Structural changes were the main focus of many studies in recent years. Changes which alter the socio-economic status of a nation from deprived and traditional nature to a developed and modern one. The main hypothesis of this study is that, the economic development does not occur through a...

By looking closely at the underlying structural causes of the discontinuity that appeared in the behavior of the U.S. stock market at 2:40pm in the afternoon of 6th May 2010. What transpired in those 7 minutes is viewed best as a hitherto unrecognized “emergent property” of structural...

The new business cycle three-dimensional model is formulated on the basis of new system approach known as the System Potential Method. Cyclical dynamics with catastrophe jumps (alike to Varian' model) and some stochastic properties is described. Properties of such cycles are similar to the...

It is proposed to consider the business cycle as hysteresis loop with fluctuating limiting points. Concept is based on the Method of System Potential, (Proceedings of International System Dynamics Conference 2003, No.56) which describes dynamics of spontaniously arising Complex Systems as the...

Empirical data show during the historical process of economic development profound structural changes in economy. One of the most important movements is from stages where the so-called tangible investments are predominant to those where intangible investments become predominant. Applying some...

This study suggests that demand management through pricing policies can be used to solve water supply problems. A demand function for water was developed using cross-sectional water data. The demand function was used in a simulation analysis to determine reservoir capacity needed to supply water...

In this paper, we propose a heterogeneous interacting agent model of a sequential monetary production economy. We use a basic dynamic flow model in an interacting agent context. The economy is assumed to be closed. There are three classes of agents: a single homogeneous representative consumer,...