Modelos Económicos con Múltiples Regímenes
AbstractIn this paper we introduce the concept of economic regime. We review the basic notions and different definitions of economic regime and regime switching to describe how these notions appear implicitly or explicitly in different areas of the economic literature. Then we introduce a method to represent dynamics across regimes in multiple regime economic models. In these models the state space of the economy can be divided in regions, each of them representing a different regime of the economy. Then, we have a twofold dynamics: one within a given regime and one across regimes. To represent the dynamics across regimes, each regime is labeled with a symbol and so doing, the domain is a set of symbols representing the possible states of the economy. Then the evolution of the economy is represented by a coded dynamics. The latter is related with the more formal, mathematical branch called symbolic dynamics. Such proximity often permits the use of formal techniques that are well established in the mathematician's tool box to represent dynamics across regimes with directed graphs and matrices and to extract dynamical properties of the models.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. 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.
Bibliographic InfoArticle provided by Tecnológico de Monterrey, Campus Ciudad de México in its journal Revista de Administración, Finanzas y Economía (Journal of Management, Finance and Economics).
Volume (Year): 1 (2007)
Issue (Month): 2 ()
Régimen económico; Modelos con múltiples regímenes; Dinámica simbólica;
Other versions of this item:
- C60 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - General
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Cooper, Russell & John, Andrew, 1988. "Coordinating Coordination Failures in Keynesian Models," The Quarterly Journal of Economics, MIT Press, MIT Press, vol. 103(3), pages 441-63, August.
- repec:att:wimass:9419 is not listed on IDEAS
- Durlauf,S.N. & Quah,D.T., 1998.
"The new empirics of economic growth,"
Working papers, Wisconsin Madison - Social Systems
3, Wisconsin Madison - Social Systems.
- Steven N. Durlauf & Danny T. Quah, 1998. "The New Empirics of Economic Growth," Working Papers, Santa Fe Institute 98-01-012, Santa Fe Institute.
- S Durlauf & Danny Quah, 1998. "The New Empirics of Economic Growth," CEP Discussion Papers dp0384, Centre for Economic Performance, LSE.
- Steven N. Durlauf & Danny T. Quah, 1998. "The New Empirics of Economic Growth," NBER Working Papers 6422, National Bureau of Economic Research, Inc.
- repec:fth:repuec:10/00 is not listed on IDEAS
- Howitt, Peter, 1985. "Transaction Costs in the Theory of Unemployment," American Economic Review, American Economic Association, vol. 75(1), pages 88-100, March.
- Blad, Michael C. & Christopher Zeeman, E., 1982. "Oscillations between repressed inflation and Keynesian equilibria due to inertia in decision making," Journal of Economic Theory, Elsevier, vol. 28(1), pages 165-182, October.
- Howitt, Peter & McAfee, R Preston, 1992.
American Economic Review,
American Economic Association, vol. 82(3), pages 493-507, June.
- Howitt, P. & Mcfee, R.P., 1990. "Animal Spirits," UWO Department of Economics Working Papers, University of Western Ontario, Department of Economics 9005, University of Western Ontario, Department of Economics.
- Azariadis, Costas & Drazen, Allan, 1990. "Threshold Externalities in Economic Development," The Quarterly Journal of Economics, MIT Press, MIT Press, vol. 105(2), pages 501-26, May.
- Durlauf, Steven N & Johnson, Paul A, 1995.
"Multiple Regimes and Cross-Country Growth Behaviour,"
Journal of Applied Econometrics, John Wiley & Sons, Ltd.,
John Wiley & Sons, Ltd., vol. 10(4), pages 365-84, Oct.-Dec..
- Durlauf, S.M. & Johnson, P.A., 1995. "Multiple Regimes and Cross-Country Growth Behavior," Working papers, Wisconsin Madison - Social Systems 9419r, Wisconsin Madison - Social Systems.
- Punzo, L.F., 1996. "Industrial Dynamics and Structural Change: A Framework for the Analysis of Sectoral Dynamics in a Set of Countries," ISER Discussion Paper 0401, Institute of Social and Economic Research, Osaka University.
- Hamilton, James D, 1989. "A New Approach to the Economic Analysis of Nonstationary Time Series and the Business Cycle," Econometrica, Econometric Society, Econometric Society, vol. 57(2), pages 357-84, March.
- Lucas, Robert Jr, 1976. "Econometric policy evaluation: A critique," Carnegie-Rochester Conference Series on Public Policy, Elsevier, Elsevier, vol. 1(1), pages 19-46, January.
- Galor, Oded & Zeira, Joseph, 1988.
"Income Distribution and Macroeconomics,"
51644, University Library of Munich, Germany, revised 01 Sep 1989.
- Potter, Simon M, 1995.
"A Nonlinear Approach to US GNP,"
Journal of Applied Econometrics, John Wiley & Sons, Ltd.,
John Wiley & Sons, Ltd., vol. 10(2), pages 109-25, April-Jun.
- Ito, Takatoshi, 1980. "Disequilibrium growth theory," Journal of Economic Theory, Elsevier, vol. 23(3), pages 380-409, December.
- P. Diamond, 1980.
"Aggregate Demand Management in Search Equilibrium,"
268, Massachusetts Institute of Technology (MIT), Department of Economics.
- Diamond, Peter A, 1982. "Aggregate Demand Management in Search Equilibrium," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 90(5), pages 881-94, October.
- repec:fth:osakae:401 is not listed on IDEAS
- Lionello F. Punzo, 1995. "Some Complex Dynamics for a Multisectoral Model of the Economy," Revue Ã‰conomique, Programme National PersÃ©e, vol. 46(6), pages 1541-1559.
- Brida, Juan G. & Anyul, Martin Puchet & Punzo, Lionello F., 2003. "Coding economic dynamics to represent regime dynamics. A teach-yourself exercise," Structural Change and Economic Dynamics, Elsevier, Elsevier, vol. 14(2), pages 133-157, June.
- Lucas, Robert E., 1977. "Understanding business cycles," Carnegie-Rochester Conference Series on Public Policy, Elsevier, Elsevier, vol. 5(1), pages 7-29, January.
- Blad, Michael C., 1981. "Exchange of stability in a disequilibrium model," Journal of Mathematical Economics, Elsevier, vol. 8(2), pages 121-145, July.
- Goldfeld, Stephen M. & Quandt, Richard E., 1973. "A Markov model for switching regressions," Journal of Econometrics, Elsevier, Elsevier, vol. 1(1), pages 3-15, March.
- Neftici, Salih N., 1982. "Optimal prediction of cyclical downturns," Journal of Economic Dynamics and Control, Elsevier, Elsevier, vol. 4(1), pages 225-241, November.
- repec:fth:repuec:9/00 is not listed on IDEAS
- Juan Gabriel Brida, 2000. "Symbolic Time Series Analysis in Economics," Documentos de Trabajo (working papers) 1000, Department of Economics - dECON.
- Juan Gabriel Brida & NicolÃ¡s Garrido & Silvia London, 2013.
"Estudio del desempeÃ±o econÃ³mico regional: el caso argentino,"
REVISTA CUADERNOS DE ECONOMÃA, UN - RCE - CID,
UN - RCE - CID.
- Juan Gabriel Brida & NicolÃ¡s Garrido & Silvia London, 2011. "Estudio del DesempeÃ±o EconÃ³mico Regional: el caso Argentino," Documentos de Trabajo en Economia y Ciencia Regional, Universidad Catolica del Norte, Chile, Department of Economics 12, Universidad Catolica del Norte, Chile, Department of Economics, revised May 2011.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (José Antonio Núñez).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.