E-Book, Englisch, Band 592, 101 Seiten
Chian Complex Systems Approach to Economic Dynamics
2007
ISBN: 978-3-540-39753-3
Verlag: Springer Berlin Heidelberg
Format: PDF
Kopierschutz: 1 - PDF Watermark
E-Book, Englisch, Band 592, 101 Seiten
Reihe: Lecture Notes in Economics and Mathematical Systems
ISBN: 978-3-540-39753-3
Verlag: Springer Berlin Heidelberg
Format: PDF
Kopierschutz: 1 - PDF Watermark
Statistical analysis of stock markets and foreign exchange markets has demonstrated the intermittent nature of economic time series. A nonlinear model of business cycles is able to simulate intermittency arising from order-chaos and chaos-chaos transitions. This monograph introduces new concepts of unstable periodic orbits and chaotic saddles, which are unstable structures embedded in a chaotic attractor and responsible for economic intermittency.
Autoren/Hrsg.
Weitere Infos & Material
1;Preface;6
2;Contents;8
3;1 Introduction;10
4;2 Nonlinear Dynamics of Economic Cycles;17
4.1;2.1 Empirical Evidence of Nonlinearity and Chaos in Economic Data;17
4.2;2.2 Modeling Nonlinearity and Chaos in Economic Dynamics;18
4.3;2.3 Van der Pol Model of Nonlinear Business Cycles: Kaldor’s Nonlinear Investiment- Savings Functions;20
4.4;2.4 Forced Van der Pol Model of Nonlinear Economic Cycles: Goodwin’s Nonlinear Accelerator- Multiplier with Lagged Investiment Outlays;21
4.5;2.5 Order and Chaos;24
4.6;2.6 Poincar´e Map;26
4.7;2.7 Bifurcation Diagram and Periodic Window;26
4.8;2.8 Multistability and Basins of Attraction;29
4.9;2.9 Unstable Periodic Orbit and Chaotic Attractor;31
4.10;2.10 Concluding Comments;34
5;3 Type-I Intermittency in Nonlinear Economic Cycles;35
5.1;3.1 Introduction;35
5.2;3.2 Nonlinear Model of Economic Cycles;38
5.3;3.3 Economic Type-I Intermittency;39
5.4;3.4 Concluding Comments;44
6;4 Crisis-Induced Intermittency in Nonlinear Economic Cycles;46
6.1;4.1 Introduction;46
6.2;4.2 Nonlinear Model of Economic Cycles;48
6.3;4.3 Economic Crisis-Induced Intermittency;48
6.4;4.4 Concluding Comments;55
7;5 Attractor Merging Crisis in Nonlinear Economic Cycles;58
7.1;5.1 Introduction;58
7.2;5.2 Nonlinear Model of Economic Cycles;61
7.3;5.3 Attractor Merging Crisis;62
7.4;5.4 Concluding Comments;67
8;6 Chaotic Transients in Nonlinear Economic Cycles;68
8.1;6.1 Introduction;68
8.2;6.2 Chaotic Saddle;68
8.3;6.3 Chaotic Transient;70
8.4;6.4 Unstable Structures in Type-I Intermittency;75
8.5;6.5 Attractor Merging Crisis;77
8.6;6.6 Unstable Structures in Crisis-Induced Intermittency;79
8.7;6.7 Concluding Comments;83
9;7 Conclusion;84
10;List of Figures;90
11;Bibliography;97
