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characterized by what is called 'systemic chaos', however the drivers of these chaotic dynamics have not been explicitly analyzed … chaos, in three steps. First, we show that the accumulation process can be mathematically described by what is known as a … missing detailed understanding of how systemic chaos is an outcome of the contradictory dynamics of capital accumulation …
Persistent link: https://www.econbiz.de/10013467124
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
The present complexity approach is based on two assumptions: A1: measurability of deviations of outcomes with respect to reference values; A2 : extension of A1 to multi-set analysis. Complexity is then defined in terms of multi-set deviation compared to single-set ones; an interpretation is...
Persistent link: https://www.econbiz.de/10010315050
A growing empirical and theoretical literature argues in favor of specifying monetary policy in the form of Taylor-type interest rate feedback rules. That is, rules whereby the nominal interest rate is set as an increasing function of inflation with a slope greater than one around an intended...
Persistent link: https://www.econbiz.de/10010318350
Persistent link: https://www.econbiz.de/10000596826
This paper introduces endogenous longevity risk in an otherwisestandard overlapping generations model with capital. In the model, an agent mayincrease the length of her old age by incurring investments in her own health fundedfrom her wage income. Such private health investments are more...
Persistent link: https://www.econbiz.de/10009360886
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