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Persistent link: https://www.econbiz.de/10003423997
Zusammenfassung Am Beispiel des Konjunkturmodells von Kaldor wird gezeigt, wie die Kontrolle eines chaotischen ökonomischen Systems mit begrenzten Ressourcen auch dann noch durchgeführt werden kann, wenn es sich bei dem zu stabilisierenden Gleichgewicht nicht mehr um einen sogenannten...
Persistent link: https://www.econbiz.de/10014608734
Persistent link: https://www.econbiz.de/10005345367
In this paper we use a simple model of evolutionary market dynamics to illustrate how chaotic behavior can be controlled by making small changes in a parameter that is accessible to the decision makers. This approach is commonly referred to as `targeting' - one can easily switch from a chaotic...
Persistent link: https://www.econbiz.de/10005169467
This paper investigates how the introduction of user fees and defensive expenditures change the complex dynamics of a discrete-time model, which represents the interaction between visitors and environmental quality in a Open-Access Protected-Area (OAPA). To investigate this issue more deeply, we...
Persistent link: https://www.econbiz.de/10009647351
Using Kaldor's business cycle model we show how a chaotic system with limited resources can be controlled in the general case where the equilibrium which we want to stabilize is not a saddle point. This problem has considerable economic relevance because it cannot be assumed that equilibria can...
Persistent link: https://www.econbiz.de/10008596473
A partial-observability model finds evidence of racial discrimination by retailers of consumer durables in apartheid South Africa. In particular, black households are 13 percentage points more likely to demand a hire/purchase loan but not to have one supplied than are other households, all else...
Persistent link: https://www.econbiz.de/10005459714
We empirically investigate through an econometric approach the Romanian credit market, namely the lei-denominated part of it, and the factors that interact with it. The main goal is to assess whether a credit crunch ocurred in Romania during the economic crisis. To this end we employ the...
Persistent link: https://www.econbiz.de/10011268744
We review Bayesian inference for dynamic latent variable models using the data augmentation principle. We detail the difficulties of stimulating dynamic latent variables in a Gibbs sampler. We propose an alternative specification of the dynamic disequilibrium model which leads to a simple...
Persistent link: https://www.econbiz.de/10004984869
We review Bayesian inference for dynamic latent variable models using the data augmentation principle. We detail the diffculties of simulating dynamic latent variables in a Gibbs sampler. We propose an alternative specification of the dynamic disequilibrium model which leads to a simple...
Persistent link: https://www.econbiz.de/10005043443