Economic Complexity Chaos Sunspots Bubbles And Nonlinearity

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Economic Complexity: Chaos, Sunspots, Bubbles, and Nonlinearity

Author : William A. Barnett
Publisher : Cambridge University Press
ISBN 13 : 9780521355636
Total Pages : 426 pages
Book Rating : 4.3/5 (556 download)

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Book Synopsis Economic Complexity: Chaos, Sunspots, Bubbles, and Nonlinearity by : William A. Barnett

Download or read book Economic Complexity: Chaos, Sunspots, Bubbles, and Nonlinearity written by William A. Barnett and published by Cambridge University Press. This book was released on 1989-07-28 with total page 426 pages. Available in PDF, EPUB and Kindle. Book excerpt: The contents of this volume comprise the proceedings of the International Symposia in Economic Theory and Econometrics conference held in 1987 at the IC^T2 (Innovation, Creativity, and Capital) Institute at the University of Texas at Austin. The essays present fundamental new research on the analysis of complicated outcomes in relatively simple macroeconomic models. The book covers econometric modelling and time series analysis techniques in five parts. Part I focuses on sunspot equilibria, the study of uncertainty generated by nonstochastic economic models. Part II examines the more traditional examples of deterministic chaos: bubbles, instability, and hyperinflation. Part III contains the most current literature dealing with empirical tests for chaos and strange attractors. Part IV deals with chaos and informational complexity. Part V, Nonlinear Econometric Modelling, includes tests for and applications of nonlinearity.

Economic Complexity: Chaos, Sunspots, Bubbles, and Nonlinearity

Author : William A. Barnett
Publisher :
ISBN 13 :
Total Pages : 409 pages
Book Rating : 4.:/5 (918 download)

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Book Synopsis Economic Complexity: Chaos, Sunspots, Bubbles, and Nonlinearity by : William A. Barnett

Download or read book Economic Complexity: Chaos, Sunspots, Bubbles, and Nonlinearity written by William A. Barnett and published by . This book was released on 1989 with total page 409 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Chaos, Complexity, And Nonlinear Economic Theory

Author : Wei-bin Zhang
Publisher : World Scientific
ISBN 13 : 981126743X
Total Pages : 228 pages
Book Rating : 4.8/5 (112 download)

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Book Synopsis Chaos, Complexity, And Nonlinear Economic Theory by : Wei-bin Zhang

Download or read book Chaos, Complexity, And Nonlinear Economic Theory written by Wei-bin Zhang and published by World Scientific. This book was released on 2023-05-17 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: What do economic chaos and uncertainties mean in rational or irrational economic theories? How do simple deterministic interactions among a few variables lead to unpredictable complex phenomena? Why is complexity of economies causing so many conflicts and confusions worldwide?This book provides a comprehensive introduction to recent developments of complexity theory in economics. It presents different models based on well-accepted economic mechanisms such as the Solow model, Ramsey model, and Lucas model. It is focused on presenting complex behaviors, such as business cycles, aperiodic motion, bifurcations, catastrophes, chaos, and hidden attractors, in basic economic models with nonlinear behavior. It shows how complex nonlinear phenomena are identified from various economic mechanisms and theories. These models demonstrate that the traditional or dominant economic views on evolution of, for instance, capitalism market, free competition, or Keynesian economics, are not generally valid. Markets are unpredictable and nobody knows with certainty the consequences of policies or other external factors in economic systems with simple interactions.

Nonlinear Dynamics in Economics and Social Sciences

Author : Franco Gori
Publisher : Springer Science & Business Media
ISBN 13 : 3642580319
Total Pages : 371 pages
Book Rating : 4.6/5 (425 download)

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Book Synopsis Nonlinear Dynamics in Economics and Social Sciences by : Franco Gori

Download or read book Nonlinear Dynamics in Economics and Social Sciences written by Franco Gori and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 371 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume constitutes the Proceedings of the "Nonlinear Dynamics in Economics and Social Sciences" Meeting held at the Certosa di Pontignano, Siena, on May 27-30, 1991. The Meeting was organized by the National Group "Modelli Nonlineari in Economia e Dinamiche Complesse" of the Italian Ministery of University and SCientific Research, M.U.RS.T. The aim of the Conference, which followed a previous analogous initiative taking place in the very same Certosa, on January 1988*, was the one of offering a come together opportunity to economists interested in a new mathematical approach to the modelling of economical processes, through the use of more advanced analytical techniques, and mathematicians acting in the field of global dynamical systems theory and applications. A basiC underlying idea drove the organizers: the necessity of fOCUSing on the use that recent methods and results, as those commonly referred to the overpopularized label of "Chaotic Dynamics", did find in the social sciences domain; and thus to check their actual relevance in the research program of modelling economic phenomena, in order to individuate and stress promising perspectives, as well as to curb excessive hopes and criticize not infrequent cases where research reduces to mechanical, ad hoc, applications of "a la mode" techniques. In a word we felt the need of looking about the state of the arts in non-linear systems theory applications to economics and social processes: hence the title of the workshop and the volume.

Sunspots and Non-Linear Dynamics

Author : Kazuo Nishimura
Publisher : Springer
ISBN 13 : 3319440764
Total Pages : 409 pages
Book Rating : 4.3/5 (194 download)

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Book Synopsis Sunspots and Non-Linear Dynamics by : Kazuo Nishimura

Download or read book Sunspots and Non-Linear Dynamics written by Kazuo Nishimura and published by Springer. This book was released on 2016-12-03 with total page 409 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents the state-of-the-art in non-linear dynamics and sunspots. These two topics have been the core of an international conference on instability and public policies in a globalized world, organized at Aix-Marseille School of Economics and GREQAM in honor of Jean-Michel Grandmont. He has made significant contributions on general equilibrium theory, monetary theory, learning, aggregation, non-linear dynamics and sunspots. This book assembles contributions by Jean-Michel Grandmont's colleagues, students and friends that have been influenced by his works and that are at the frontier of research in this domain today.

Nonlinear Dynamical Economics and Chaotic Motion

Author : Hans-Walter Lorenz
Publisher : Springer Science & Business Media
ISBN 13 : 3662222337
Total Pages : 248 pages
Book Rating : 4.6/5 (622 download)

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Book Synopsis Nonlinear Dynamical Economics and Chaotic Motion by : Hans-Walter Lorenz

Download or read book Nonlinear Dynamical Economics and Chaotic Motion written by Hans-Walter Lorenz and published by Springer Science & Business Media. This book was released on 2013-06-29 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: The plan to publish the present book arose while I was preparing a joint work with Gunter Gabisch (Gabisch, G. /Lorenz, H. -W. : Business Cycle Theory. Berlin-Heidel berg-New York: Springer). It turned out that a lot of interesting material could only be sketched in a business cycle text, either because the relevance for business cycle theory was not evident or because the material required an interest in dynamical economics which laid beyond the scope of a survey text for advanced undergraduates. While much of the material enclosed in this book can be found in condensed and sometimes more or less identical form in that business cycle text, the present monograph attempts to present nonlinear dynamical economics in a broader context with economic examples from other fields than business cycle theory. It is a pleasure for me to acknowledge the critical comments, extremely detailed remarks, or suggestions by many friends and colleagues. The responses to earlier versions of the manuscript by W. A. Barnett, M. Boldrin, W. A. Brock, C. Chiarella, C. Dale, G. Feichtinger, P. Flaschel, D. K. Foley, R. M. Goodwin, D. Kelsey, M. Lines, A. Medio, L. Montrucchio, P. Read, C. Sayers, A. Schmutzler, H. Schnabl, G. Silverberg, H. -\'\!. Sinn, J. Sterman, and R. Tscherning not only encouraged me to publish the book in its present form but helped to remove numerous errors (not only typographic ones) and conceptnal misunderstandings and flaws. Particular thanks go to G.

Economic Uncertainty, Instabilities And Asset Bubbles: Selected Essays

Author : Anastasios G Malliaris
Publisher : World Scientific
ISBN 13 : 9814480045
Total Pages : 373 pages
Book Rating : 4.8/5 (144 download)

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Book Synopsis Economic Uncertainty, Instabilities And Asset Bubbles: Selected Essays by : Anastasios G Malliaris

Download or read book Economic Uncertainty, Instabilities And Asset Bubbles: Selected Essays written by Anastasios G Malliaris and published by World Scientific. This book was released on 2005-10-03 with total page 373 pages. Available in PDF, EPUB and Kindle. Book excerpt: The compendium of papers in this volume focuses on aspects of economic uncertainty, financial instabilities and asset bubbles.Economic uncertainty is modeled in continuous time using the mathematical techniques of stochastic calculus. A detailed treatment of important topics is provided, including the existence and uniqueness of asymptotic economic growth, the modeling of inflation and interest rates, the decomposition of inflation and its volatility, and the extension of the quantity theory of money to allow for randomness.The reader is also introduced to the methods of chaotic dynamics, and this methodology is applied to asset pricing, the European equity markets, and the multi-fractality in foreign currency markets.Since the techniques of stochastic calculus and chaotic dynamics do not readily accommodate the presence of stochastic bubbles, several papers discuss in depth the presence of financial bubbles in asset prices, and econometric work is performed to link such bubbles to monetary policy.Finally, since bubbles often burst rather than deflate slowly, the last section of the book studies the crash of October 1987 as well as other crashes of national equity markets due to the Persian gulf crisis.

The Stock Market: Bubbles, Volatility, and Chaos

Author : G.P. Dwyer
Publisher : Springer Science & Business Media
ISBN 13 : 9401578818
Total Pages : 206 pages
Book Rating : 4.4/5 (15 download)

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Book Synopsis The Stock Market: Bubbles, Volatility, and Chaos by : G.P. Dwyer

Download or read book The Stock Market: Bubbles, Volatility, and Chaos written by G.P. Dwyer and published by Springer Science & Business Media. This book was released on 2013-03-09 with total page 206 pages. Available in PDF, EPUB and Kindle. Book excerpt: Gerald P. Dwyer, Jr. and R. W. Hafer The articles and commentaries included in this volume were presented at the Federal Reserve Bank of St. Louis' thirteenth annual economic policy conference, held on October 21-22, 1988. The conference focused on the behavior of asset market prices, a topic of increasing interest to both the popular press and to academic journals as the bull market of the 1980s continued. The events that transpired during October, 1987, both in the United States and abroad, provide an informative setting to test alter native theories. In assembling the papers presented during this conference, we asked the authors to explore the issue of asset pricing and financial market behavior from several vantages. Was the crash evidence of the bursting of a speculative bubble? Do we know enough about the work ings of asset markets to hazard an intelligent guess why they dropped so dramatically in such a brief time? Do we know enough to propose regulatory changes that will prevent any such occurrence in the future, or do we want to even if we can? We think that the articles and commentaries contained in this volume provide significant insight to inform and to answer such questions. The article by Behzad Diba surveys existing theoretical and empirical research on rational bubbles in asset prices.

Statistical Challenges in Modern Astronomy

Author : Eric D. Feigelson
Publisher : Springer Science & Business Media
ISBN 13 : 146139290X
Total Pages : 528 pages
Book Rating : 4.4/5 (613 download)

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Book Synopsis Statistical Challenges in Modern Astronomy by : Eric D. Feigelson

Download or read book Statistical Challenges in Modern Astronomy written by Eric D. Feigelson and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 528 pages. Available in PDF, EPUB and Kindle. Book excerpt: Modern astronomy has been characterized by an enormous growth in data acquisition - from new technologies in telescopes, detectors, and computation. One can now compile catalogs of tens or hundreds of millions of stars or galaxies and databases from satellite-based observations are reaching terabit proportions. This wealth of data gives rise to statistical challenges not previously encountered in astronomy. This book is the result of a workshop held at Pennsylvania State University in August 1991 that brought together leading astronomers and statisticians to consider statistical challenges encountered in modern astronomical research. The chapters have all been thoroughly revised in the light of the discussions at the conference, and some of the lively discussion is recorded here as well.

Natural Images in Economic Thought

Author : Philip Mirowski
Publisher : Cambridge University Press
ISBN 13 : 9780521478847
Total Pages : 640 pages
Book Rating : 4.4/5 (788 download)

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Book Synopsis Natural Images in Economic Thought by : Philip Mirowski

Download or read book Natural Images in Economic Thought written by Philip Mirowski and published by Cambridge University Press. This book was released on 1994-07-29 with total page 640 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 1994 book was the first collection devoted to impact of natural sciences on content and form of economics in history.

Political Economy: Institutions, Competition and Representation

Author : William A. Barnett
Publisher : Cambridge University Press
ISBN 13 : 9780521428316
Total Pages : 540 pages
Book Rating : 4.4/5 (283 download)

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Book Synopsis Political Economy: Institutions, Competition and Representation by : William A. Barnett

Download or read book Political Economy: Institutions, Competition and Representation written by William A. Barnett and published by Cambridge University Press. This book was released on 1993-07-30 with total page 540 pages. Available in PDF, EPUB and Kindle. Book excerpt: The contents of this volume are drawn from the seventh International Symposium in Economic Theory and Econometrics, and represent recent advances in the development of concepts and methods in political economy. Contributors include leading practitioners working on formal, applied, and historical approaches to the subject. The collection will interest scholars in the fields of political science and political sociology no less than economics. Part I outlines relevant concepts in political economy, including implementation, community, ideology, and institutions. Part II covers theory and applications of the spatial model of voting. Part III considers the different characteristics that govern the behaviour of institutions, while Part IV analyses competition between political representatives. Part V is concerned with the way in which government acquires information held by voters or advisors, and Part VI addresses government choice on monetary policy and taxation.

Nonlinear and Convex Analysis in Economic Theory

Author : Toru Maruyama
Publisher : Springer Science & Business Media
ISBN 13 : 364248719X
Total Pages : 303 pages
Book Rating : 4.6/5 (424 download)

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Book Synopsis Nonlinear and Convex Analysis in Economic Theory by : Toru Maruyama

Download or read book Nonlinear and Convex Analysis in Economic Theory written by Toru Maruyama and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 303 pages. Available in PDF, EPUB and Kindle. Book excerpt: The papers collected in this volume are contributions to T.I.Tech./K.E.S. Conference on Nonlinear and Convex Analysis in Economic Theory, which was held at Keio University, July 2-4, 1993. The conference was organized by Tokyo Institute of Technology (T. I. Tech.) and the Keio Economic Society (K. E. S.) , and supported by Nihon Keizai Shimbun Inc .. A lot of economic problems can be formulated as constrained optimiza tions and equilibrations of their solutions. Nonlinear-convex analysis has been supplying economists with indispensable mathematical machineries for these problems arising in economic theory. Conversely, mathematicians working in this discipline of analysis have been stimulated by various mathematical difficulties raised by economic the ories. Although our special emphasis was laid upon "nonlinearity" and "con vexity" in relation with economic theories, we also incorporated stochastic aspects of financial economics in our project taking account of the remark able rapid growth of this discipline during the last decade. The conference was designed to bring together those mathematicians who were seriously interested in getting new challenging stimuli from economic theories with those economists who were seeking for effective mathematical weapons for their researches. Thirty invited talks (six of them were plenary talks) given at the conf- ence were roughly classified under the following six headings : 1) Nonlinear Dynamical Systems and Business Fluctuations, . 2) Fixed Point Theory, 3) Convex Analysis and Optimization, 4) Eigenvalue of Positive Operators, 5) Stochastic Analysis and Financial Market, 6) General Equilibrium Analysis.

From Catastrophe to Chaos: A General Theory of Economic Discontinuities

Author : J. Barkley Rosser
Publisher : Springer Science & Business Media
ISBN 13 : 9401716137
Total Pages : 313 pages
Book Rating : 4.4/5 (17 download)

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Book Synopsis From Catastrophe to Chaos: A General Theory of Economic Discontinuities by : J. Barkley Rosser

Download or read book From Catastrophe to Chaos: A General Theory of Economic Discontinuities written by J. Barkley Rosser and published by Springer Science & Business Media. This book was released on 2013-03-14 with total page 313 pages. Available in PDF, EPUB and Kindle. Book excerpt: From Catastrophe to Chaos: A General Theory of Economic Discontinuities presents and unusual perspective on economics and economic analysis. Current economic theory largely depends upon assuming that the world is fundamentally continuous. However, an increasing amount of economic research has been done using approaches that allow for discontinuities such as catastrophe theory, chaos theory, synergetics, and fractal geometry. The spread of such approaches across a variety of disciplines of thought has constituted a virtual intellectual revolution in recent years. This book reviews the applications of these approaches in various subdisciplines of economics and draws upon past economic thinkers to develop an integrated view of economics as a whole from the perspective of inherent discontinuity.

Nonlinear Evolution of Spatial Economic Systems

Author : Peter Nijkamp
Publisher : Springer Science & Business Media
ISBN 13 : 3642784631
Total Pages : 291 pages
Book Rating : 4.6/5 (427 download)

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Book Synopsis Nonlinear Evolution of Spatial Economic Systems by : Peter Nijkamp

Download or read book Nonlinear Evolution of Spatial Economic Systems written by Peter Nijkamp and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 291 pages. Available in PDF, EPUB and Kindle. Book excerpt: Is our world more dynamic than it used to be in the past? Have phenomena in the social science field become unpredictable? Are chaotic events nowadays occurring more frequently than in the past? Such questions are often raised in popular debates on nonlinear evolution and self-organizing systems. At the same time, many scientists are also raising various intruiging methodological issues. Is it possible to separate deterministic chaos from random disturbances if their trajectories are (almost) similar? Is prediction still possible in a world of chaos (Poincare)? Is it possible to distinguish specification errors from measurement errors in a nonlinear dynamic model? Is evolution a random process? The list of such questions can easily be extended with dozens of others. But despite the myriad of questions on problems of nonlinear evolution, one common trait is evident: in both the natural and the social sciences we are still groping in the dark in areas which are par excellence promising hunting grounds for exploratory and exploratory research, viz. structural grounds in an uncertain nonlinear world. The present book aims at offering a collection of refreshing contributions to the above research issues by focusing attention, in particular on nonlinear dynamic evolution in space at the Netherlands Institute for Advanced Study (NIAS) in Wassenaar, the Netherlands. The Institute has to be thanked for its hospitality and support, reflected inter alia in a workshop at which several of the papers included in this book were discussed.

Economic Complexity and Equilibrium Illusion

Author : Ping Chen
Publisher : Routledge
ISBN 13 : 1136994874
Total Pages : 585 pages
Book Rating : 4.1/5 (369 download)

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Book Synopsis Economic Complexity and Equilibrium Illusion by : Ping Chen

Download or read book Economic Complexity and Equilibrium Illusion written by Ping Chen and published by Routledge. This book was released on 2010-04-05 with total page 585 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Principle of Large Numbers indicates that macro fluctuations have weak microfoundations; persistent business cycles and interrupted technologies can be better characterized by macro vitality and meso foundations. Economic growth is limited by market extent and ecological constraints. The trade-off between stability and complexity is the foundation of cultural diversity and mixed economies. The new science of complexity sheds light on the sources of economic instability and complexity. This book consists of the major work of Professor Ping Chen, a pioneer in studying economic chaos and economic complexity. They are selected from works completed since 1987, including original research on the evolutionary dynamics of the division of labour, empirical and theoretical studies of economic chaos and stochastic models of collective behavior. Offering a new perspective on market instability and the changing world order, the basic pillars in equilibrium economics are challenged by solid evidence of economic complexity and time asymmetry, including Friedman’s theory of exogenous money and efficient market, the Frisch model of noise-driven cycles, the Lucas model of microfoundations and rational expectations, the Black-Scholes model of option pricing, and the Coase theory of transaction costs. Throughout, a general theory based on complex evolutionary economics is developed, which integrates different insights from Marx, Marshall, Schumpeter, Keynes and offers a new understanding of the evolutionary history of division of labour. This book will be of interest to postgraduates and researchers in Economics, including macroeconomics, financial economics, advanced econometrics and economic methodology.

Nonlinear Dynamics, Chaos, and Instability

Author : William A. Brock
Publisher : MIT Press
ISBN 13 : 9780262023290
Total Pages : 362 pages
Book Rating : 4.0/5 (232 download)

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Book Synopsis Nonlinear Dynamics, Chaos, and Instability by : William A. Brock

Download or read book Nonlinear Dynamics, Chaos, and Instability written by William A. Brock and published by MIT Press. This book was released on 1991 with total page 362 pages. Available in PDF, EPUB and Kindle. Book excerpt: Brock, Hsieh, and LeBaron show how the principles of chaos theory can be applied to such areas of economics and finance as the changing structure of stock returns and nonlinearity in foreign exchange.

Cycles and Chaos in Economic Equilibrium

Author : Jess Benhabib
Publisher : Princeton University Press
ISBN 13 : 0691225214
Total Pages : 490 pages
Book Rating : 4.6/5 (912 download)

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Book Synopsis Cycles and Chaos in Economic Equilibrium by : Jess Benhabib

Download or read book Cycles and Chaos in Economic Equilibrium written by Jess Benhabib and published by Princeton University Press. This book was released on 2021-02-09 with total page 490 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent years economists have begun to use the techniques of non-linear dynamics to show that some apparently erratic and turbulent economic phenomena reflect subtle underlying patterns. How do cyclic and chaotic dynamics arise in economic models of equilibrium? How can empirical methods be used to detect nonlinearities and cyclic and chaotic structures in economic models? In examining these questions, this book brings together the most significant work that has been done to date in economics-based chaos theory. Selected here particularly for the economist who is not a specialist in chaos theory, the essays, some previously unpublished and others not widely available, describe a new tool for understanding business cycles, stabilization policy, and forecasting. The contributors to the volume are William J. Baumol, Jess Benhabib, Michele Boldrin, William A. Brock, Richard H. Day, Raymond J. Deneckere, Allan Drazen, Jean-Michel Grandmont, Kenneth L. Judd, Bruno Jullien, Guy Laroque, Blake LeBaron, Bruce McNevin, Luigi Montrucchio, Salih Nefti, Kazuo Nishimura, James B. Ramsey, Pietro Reichlin, Philip Rothman, Chera L. Sayers, Jos A. Scheinkman, Wayne Shafer, William Whitesell, Edward N. Wolff, and Michael Woodford.