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Continuous and Discontinuous Piecewise-Smooth One-Dimensional Maps: Invariant Sets and Bifurcation Structures
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The article was published on 2014-07-31 and is currently open access. It has received 51 citations till now. The article focuses on the topics: Saddle-node bifurcation & Bifurcation diagram.read more
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Heterogeneity, spontaneous coordination and extreme events within large-scale and small-scale agent-based financial market models
Noemi Schmitt,Frank Westerhoff +1 more
TL;DR: In this paper, the authors propose an agent-based financial market framework in which speculators usually follow their own individual technical and fundamental trading rules to determine their orders, but there are also sunspot-initiated periods in which their trading behavior is correlated.
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Side effects of nonlinear profit taxes in an evolutionary market entry model: Abrupt changes, coexisting attractors and hysteresis problems
TL;DR: In this article, the authors develop an evolutionary market entry model, in which firms decide on the basis of past profit opportunities whether or not to enter a competitive market and demonstrate that nonlinear tax systems may have surprising and potentially undesirable side effects.
Journal ArticleDOI
Housing markets, expectation formation and interest rates
TL;DR: In this paper, the authors explore whether central banks can stabilize housing markets via the interest rate and find that the ability of central banks to tame housing markets by increasing the base (target) interest rate, thereby softening the demand pressure on house prices, is rather limited.
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Revisiting the model of credit cycles with good and bad projects
TL;DR: The model of endogenous credit cycles by Matsuyama (2013) is revisited, and the power of the skew-tent map as a tool for analyzing a regime-switching dynamic economic model is demonstrated.
Journal ArticleDOI
Heterogeneity, spontaneous coordination and extreme events within large-scale and small-scale agent-based financial market models
Noemi Schmitt,Frank Westerhoff +1 more
TL;DR: In this article, the authors propose an agent-based financial market framework in which speculators usually follow their own individual technical and fundamental trading rules to determine their orders, but there are also sunspot-initiated periods in which their trading behavior is correlated.