IDEAS home Printed from https://ideas.repec.org/p/arx/papers/1907.01902.html
   My bibliography  Save this paper

Multiplicity of time scales in climate, matter, life, and economy

Author

Listed:
  • Bernhelm Booss-Bavnbek
  • Rasmus Kristoffer Pedersen
  • Ulf R{o}rb{ae}k Pedersen

Abstract

This topic review communicates working experiences regarding interaction of a multiplicity of processes. Our experiences come from climate change modelling, materials science, cell physiology and public health, and macroeconomic modelling. We look at the astonishing advances of recent years in broad-band temporal frequency sampling, multiscale modelling and fast large-scale numerical simulation of complex systems, but also the continuing uncertainty of many science-based results. We describe and analyse properties that depend on the time scale of the measurement; structural instability; tipping points; thresholds; hysteresis; feedback mechanisms with runaways or stabilizations or delays. We point to grave disorientation in statistical sampling, the interpretation of observations and the design of control when neglecting the presence or emergence of multiple characteristic times. We explain what these working experiences can demonstrate for environmental research.

Suggested Citation

  • Bernhelm Booss-Bavnbek & Rasmus Kristoffer Pedersen & Ulf R{o}rb{ae}k Pedersen, 2019. "Multiplicity of time scales in climate, matter, life, and economy," Papers 1907.01902, arXiv.org, revised Feb 2020.
    • Handle: RePEc:arx:papers:1907.01902
    as

    Download full text from publisher

    File URL: http://arxiv.org/pdf/1907.01902
    File Function: Latest version
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Peter Flaschel, 2009. "The Macrodynamics of Capitalism," Springer Books, Springer, number 978-3-540-87932-9, September.
    2. Tönu Puu, 2003. "Mathematical Location and Land Use Theory," Advances in Spatial Science, Springer, edition 0, number 978-3-540-24785-2, Fall.
    3. Masahisa Fujita & Paul Krugman & Anthony J. Venables, 2001. "The Spatial Economy: Cities, Regions, and International Trade," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262561476, December.
    4. Srikanth Sastry & Pablo G. Debenedetti & Frank H. Stillinger, 1998. "Signatures of distinct dynamical regimes in the energy landscape of a glass-forming liquid," Nature, Nature, vol. 393(6685), pages 554-557, June.
    5. Yangyang Xu & Veerabhadran Ramanathan & David G. Victor, 2018. "Global warming will happen faster than we think," Nature, Nature, vol. 564(7734), pages 30-32, December.
    6. Arthur F. Burns & Wesley C. Mitchell, 1946. "Measuring Business Cycles," NBER Books, National Bureau of Economic Research, Inc, number burn46-1, July.
    7. Göran Kauermann & Timo Teuber & Peter Flaschel, 2012. "Exploring US Business Cycles with Bivariate Loops Using Penalized Spline Regression," Computational Economics, Springer;Society for Computational Economics, vol. 39(4), pages 409-427, April.
    8. Arthur F. Burns, 1969. "The Business Cycle in a Changing World," NBER Books, National Bureau of Economic Research, Inc, number burn69-1, July.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Bernanke, Ben S, 1986. "Employment, Hours, and Earnings in the Depression: An Analysis of EightManufacturing Industries," American Economic Review, American Economic Association, vol. 76(1), pages 82-109, March.
    2. Ilse Mintz, 1974. "Dating United States Growth Cycles," NBER Chapters, in: Explorations in Economic Research, Volume 1, Number 1, pages 1-113, National Bureau of Economic Research, Inc.
    3. Fernando H.P.S Mendes & João Frois Caldeira & Guilherme Valle Moura, 2019. "Duration-dependent Markov-switching model: an empirical study for the Brazilian business cycle," Economics Bulletin, AccessEcon, vol. 39(1), pages 676-685.
    4. Duo Qin, 2010. "Econometric Studies of Business Cycles in the History of Econometrics," Working Papers 669, Queen Mary University of London, School of Economics and Finance.
    5. Panayotis G. Michaelides & Efthymios G. Tsionas & Angelos T. Vouldis & Konstantinos N. Konstantakis & Panagiotis Patrinos, 2018. "A Semi-Parametric Non-linear Neural Network Filter: Theory and Empirical Evidence," Computational Economics, Springer;Society for Computational Economics, vol. 51(3), pages 637-675, March.
    6. Martin Schneider & Martin Spitzer, 2004. "Forecasting Austrian GDP using the generalized dynamic factor model," Working Papers 89, Oesterreichische Nationalbank (Austrian Central Bank).
    7. Valentina Aprigliano & Danilo Liberati, 2021. "Using Credit Variables to Date Business Cycle and to Estimate the Probabilities of Recession in Real Time," Manchester School, University of Manchester, vol. 89(S1), pages 76-96, September.
    8. Drew Creal & Siem Jan Koopman & Eric Zivot, 2008. "The Effect of the Great Moderation on the U.S. Business Cycle in a Time-varying Multivariate Trend-cycle Model," Tinbergen Institute Discussion Papers 08-069/4, Tinbergen Institute.
    9. DAVID E. ALLEN & MICHAEL McALEER & ROBERT J. POWELL & ABHAY K. SINGH, 2018. "Non-Parametric Multiple Change Point Analysis Of The Global Financial Crisis," Annals of Financial Economics (AFE), World Scientific Publishing Co. Pte. Ltd., vol. 13(02), pages 1-23, June.
    10. Acosta, Juan & Cherrier, Beatrice, 2021. "The Transformation Of Economic Analysis At The Board Of Governors Of The Federal Reserve System During The 1960s," Journal of the History of Economic Thought, Cambridge University Press, vol. 43(3), pages 323-349, September.
    11. Markusen, James R. & Venables, Anthony J., 1999. "Foreign direct investment as a catalyst for industrial development," European Economic Review, Elsevier, vol. 43(2), pages 335-356, February.
    12. Lippi, Marco & Reichlin, Lucrezia & Hallin, Marc & Forni, Mario & Altissimo, Filippo & Cristadoro, Riccardo & Veronese, Giovanni & Bassanetti, Antonio, 2001. "EuroCOIN: A Real Time Coincident Indicator of the Euro Area Business Cycle," CEPR Discussion Papers 3108, C.E.P.R. Discussion Papers.
    13. Perron, Pierre & Wada, Tatsuma, 2016. "Measuring business cycles with structural breaks and outliers: Applications to international data," Research in Economics, Elsevier, vol. 70(2), pages 281-303.
    14. Claudio Borio, 2013. "On Time, Stocks and Flows: Understanding the Global Macroeconomic Challenges," National Institute Economic Review, National Institute of Economic and Social Research, vol. 225(1), pages 3-13, August.
    15. Parma Chakravartti & Sudipto Mundle, 2017. "An Automatic Leading Indicator Based Growth Forecast For 2016-17 and The Outlook Beyond," Working Papers id:11773, eSocialSciences.
    16. Catalin DUMITRESCU, 2020. "Financial Stability Of Economic Agencies In Conditions Of Economic Crisis," Internal Auditing and Risk Management, Athenaeum University of Bucharest, vol. 57(1), pages 22-33, March.
    17. Lamperti, Francesco & Bosetti, Valentina & Roventini, Andrea & Tavoni, Massimo & Treibich, Tania, 2021. "Three green financial policies to address climate risks," Journal of Financial Stability, Elsevier, vol. 54(C).
    18. Kym Anderson, 2005. "On the Virtues of Multilateral Trade Negotiations," The Economic Record, The Economic Society of Australia, vol. 81(255), pages 414-438, December.
    19. Pami Dua & Anirvan Banerji, 2006. "Business Cycles in India," Working papers 146, Centre for Development Economics, Delhi School of Economics.
    20. Apostolos Serletis & Ricardo Rangel-Ruiz, 2007. "Testing for Common Features in North American Energy Markets," World Scientific Book Chapters, in: Quantitative And Empirical Analysis Of Energy Markets, chapter 14, pages 172-187, World Scientific Publishing Co. Pte. Ltd..

    More about this item

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:arx:papers:1907.01902. See general information about how to correct material in RePEc.

    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 CitEc recognized a bibliographic reference but did not link an item in RePEc 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 RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: arXiv administrators (email available below). General contact details of provider: http://arxiv.org/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.