Showing 1 - 10 of 18
Persistent link: https://www.econbiz.de/10011300800
This short paper is a comment on ``Testing for Nonlinear Structure and Chaos in Economic Time Series'' by Catherine … outliers and noisy chaos. In particular, we include some new simulations to investigate whether economic time series may be … characterized by low dimensional noisy chaos. …
Persistent link: https://www.econbiz.de/10011349217
This research explores five barriers, acting as obstacles to chaos in terms of policy (A), economic (B), social (C … state of the systems is then presented, the element that generates the mathematical equation specific to chaos, the block … through its components and for different economic partners, the state of chaos is explained by means of a structure with …
Persistent link: https://www.econbiz.de/10014496793
(e.g., via limit cycles/chaos). A popular approach to solving nonlinear models is perturbation methods. I show that, as … typically implemented, these methods are incapable of finding solutions featuring limit cycles or chaos. Fundamentally …
Persistent link: https://www.econbiz.de/10013189757
This paper investigates chaos in a Nigerian mutual fund, Asset and Resource Management Company Limited (ARM) for a …
Persistent link: https://www.econbiz.de/10011482594
This paper provides an example in which a slight behavioral heterogeneity may fundamentally change the qualitative properties of a nonlinear cobweb market with a quadratic cost function and an isoelastic demand function. We consider two types of producers; adaptive and naive. In a market of...
Persistent link: https://www.econbiz.de/10010477502
Short-term contracts and exogenous productivity growth are introduced in asimple wage bargaining model. The equilibrium utilities corresponding tomilitant union behaviour are independent of the contract length. The wagedynamics are linear if strike is credible (low wage shares) and...
Persistent link: https://www.econbiz.de/10011299962
We analyse an extended version of the dynamical mean-field Ising model. Instead of classical physical representation of spins and external magnetic field, the model describes traders' opinion dynamics. The external field is endogenised to represent a smoothed moving average of the past state...
Persistent link: https://www.econbiz.de/10011865581
This essay links some of my own work on expectations, learning and bounded rationality to the inspiring ideas of Jean-Michel Grandmont. In particular, my work on consistent expectations and behavioral learning equilibria may be seen as formalizations of JMG's ideas of self-fulfilling mistakes....
Persistent link: https://www.econbiz.de/10011590425
Persistent link: https://www.econbiz.de/10011853599