On the accurate characterization of business cycles in nonlinear dynamic financial and economic systems
AbstractThe accurate characterization of the business cycles in the nonlinear dynamic financial and economic systems in the time of globalization represents a formidable research problem. The central banks and other financial institutions make their decisions on the minimum capital requirements, countercyclical capital buffer allocation and capital investments, going from the precise data on the business cycles. We consider the two possible interaction scenarios, when there are: the linear interactions, and the non-linear interactions. In our opinion, the main parameters of the business cycle may deviate during the business cycle nonlinear interaction with the nonlinear dynamic financial and economic systems, because of the origination of the nonlinear effects such as the Four Waves Mixing (FWM), Stimulated Brillouin Scattering (SBS), Stimulated Raman Scattering (SRS), Carrier Induced Phase Modulation.
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Date of creation: Apr 2013
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This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-04-20 (All new papers)
- NEP-ETS-2013-04-20 (Econometric Time Series)
- NEP-MAC-2013-04-20 (Macroeconomics)
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