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response by changing the slope of the demand schedule can thrust the model into instability, chaos, and extinction, without … via slope preserving increases in market demand can push the model into instability, chaos, and even extinction. Finally …, we show that similar adjustments in market demand may be capable of eliminating instability and chaos rooted in powerful …
Persistent link: https://www.econbiz.de/10009444668
This paper builds models of nonlinear dynamics in the aggregate investment and borrower net worth and uses them to study the causes and nature of endogenous credit cycles. The basic model has two types of projects: the Good and the Bad. The Bad is highly productive, but, unlike the Good, it...
Persistent link: https://www.econbiz.de/10010266314
-linearity that gives rise to a jerk differential equation, which is in principle capable of generating chaos. The model is …
Persistent link: https://www.econbiz.de/10010274880
This paper investigates whether the inherent non-stationarity of macroeconomic time series is entirely due to a random walk or also to non-linear components. Applying the numerical tools of the analysis of dynamical systems to long time series for the US, we reject the hypothesis that these...
Persistent link: https://www.econbiz.de/10005841587
Numerical weather forecast errors are generated by model deficiencies and by errors in the initial conditions which interact and grow nonlinearly. With recent progress in data assimilation, the accuracy in the initial conditions has been substantially improved so that accounting for systematic...
Persistent link: https://www.econbiz.de/10009450747
expensive. The polynomial chaos approach has been shown to be more efficient than Monte Carlo for quantifying the effects of … polynomial chaos theory for parameter estimation: a Bayesian approach, and an approach using an extended Kalman filter (EKF) to … obtain the polynomial chaos representation of the uncertain states and the uncertain parameters. The two methods are applied …
Persistent link: https://www.econbiz.de/10009457571
significantly reduce uncertainty through traditional approaches may in part be explained by chaos theory. This paper defines … deterministic chaos and demonstrates that supply chains can display some of the key characteristics of chaotic systems, namely …: chaos exhibits sensitivity to initial conditions; it has Islands of Stability; generates patterns; invalidates the …
Persistent link: https://www.econbiz.de/10009463190
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
(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
We develop a cobweb model in which firms, facing a two-period production delay, have access to a flexible (costly) and an inflexible (cheap) production technology. Moreover, firms select between production technologies depending on theirevolutionary fitness, measured in terms of past realized...
Persistent link: https://www.econbiz.de/10012801537