Journal ArticleDOI
Chaotic dynamics: theory and applications to economics, by Alfredo Medio in collaboration with Giampaolo Gallo. Pp 344. £35. 1993. ISBN 0-521-39488-0; (Accompanying Disk ISBN 0-521-42107-1. £30 MSDOS or Apple Mac). (Cambridge University Press)
TLDR
This book introduces chaos and economics in a continuous-time model of inventory business cycles and applications to Economics, and discusses the role of software in this transformation.Abstract:
Preface Part I. Theory: 1. General introduction: chaos and economics 2. Basic mathematical concepts 3. A user's guide 4. Surfaces of sections and Poincare maps 5. Spectral analysis 6. Lyapunov characteristic exponents 7. Dimensions 8. Symbolic dynamics 9. Transition to chaos: theoretical predictive criteria 10. Analysis of experimental signals: some theoretical problems Part II. Applications to Economics: 11. Discrete and continuous chaos 12. Cycles and chaos in overlapping generations models with production 13. Chaos in a continuous-time model of inventory business cycles 14. Analysis of experimental signals Part III. Software: 15. DMC manual 16. MODEL 17. EVAL 18. PLOT 19. STAT 20. FILES 21. UTIL 22. OPTS 23. QUIT 24. Internal menu commands 25. DMC internal compiler.read more
Citations
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Book ChapterDOI
Business Cycles, Chaos and Predictability
TL;DR: A scanty observation of the time series of most variables of economic interest, such as the price of an individual commodity or the exchange rate between two currencies, shows the presence of bounded and more or less regular fluctuations, with or without an underlying trend.
Posted Content
Forecasting Exchange-Rates via Local Approximation Methods and Neural Networks
Andreas S. Andreou,George A. Zombanakis,Efstratios F. Georgopoulos,Spiridon D. Likothanassis +3 more
TL;DR: In this paper, the authors focus on the Greek drachma using daily observations of the drachmas rates against four major currencies, namely the U.S. Dollar (USD), the Deutsche Mark (DM), the French Franc (FF) and the British Pound (GBP), for a period of 11 years, aiming at forecasting their short-term course by applying local approximation methods based on both chaotic analysis and neural networks.
Book ChapterDOI
Local Bifurcation Theory Applied to OLG Models
TL;DR: In this paper, the basic OLG model is extended to include a pay-as-you-go pension scheme and forward dynamics are determined from the backward equation of motion, leading to a second order relation for which fold bifurcations exist.
Book ChapterDOI
Time-Series Analysis and Cyclostratigraphy: Environmental cycles recorded stratigraphically
TL;DR: There are a variety of environmental processes that have been used to explain regular cycles encountered in stratigraphic records (in the broad sense from growth bands in living organisms and fossils to layered ice, speleothems, sediments and sedimentary rocks).
References
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Book ChapterDOI
Chapter 23 Heterogeneous Agent Models in Economics and Finance
TL;DR: A survey of dynamic heterogeneous agent models (HAMs) in economics and finance can be found in this paper, where the authors focus on simple models that are tractable by analytic methods in combination with computational tools.
MonographDOI
Behavioral Rationality and Heterogeneous Expectations in Complex Economic Systems
TL;DR: In this paper, the nonlinear cobweb model with heterogeneous expectations was proposed and empirically validated in a laboratory experiment, and an asset pricing model was proposed with heterogenous beliefs.
Book
Time-Series Analysis and Cyclostratigraphy: Examining Stratigraphic Records of Environmental Cycles
TL;DR: This work Constructing time series in cyclostratigraphy with a focus on environmental cycles recorded stratigraphically and additional methods of time-series analysis.
CapitalLabor Substitution and Competitive Nonlinear Endogenous Business Cycles
TL;DR: In this article, simple geometrical methods were developed to study local indeterminacy, bifurcations and stochastic (sunspot) equilibria near a steady state, in nonlinear two dimensional economic models.
Journal ArticleDOI
Testing for non-linear structure in an artificial financial market
TL;DR: In this paper, the authors present a stochastic simulation model of a prototype financial market, which is populated by both noise traders and fundamentalist speculators, and explore the behavior of the model when testing for the presence of chaos or non-linearity in the simulated data.