Complex dynamic behaviour in terms of chaotic motion, catastrophic events or other seemingly irregular and unexpected features of and in theoretical economic models are nowadays known as a common property of many nonlinear approaches to an understanding of the motion of actual time series, such as inflation rates, unemployment figures, and many other economic variables. Since most existing models in economic dynamics are constructed in the tradition of classical mechanics, this result does not appear as a real surprise. However, the real for economic theory still persists in identifying the complex structure of economic reality, which cannot be satisfactorily represented by simple deterministic laws of motion, although such might possess the possibility of very complicated dynamic motion.
Download Info
To download:
If you experience problems downloading a file, check if you have the
proper application to
view it first. Information about this may be contained
in the File-Format links below. In case of further problems read
the IDEAS help
page. Note that these files are not on the IDEAS
site. Please be patient as the files may be large.
Publisher Info
Article provided by Cambridge University Press in its journal European Review.
Volume (Year): 17 (2009) Issue (Month): 02 (May) Pages: 403-421 Download reference. The following formats are available: HTML
(with abstract),
plain text
(with abstract),
BibTeX,
RIS (EndNote, RefMan, ProCite),
ReDIF