IDEAS home Printed from https://ideas.repec.org/a/oup/oxecpp/v40y1988i1p1-31.html
   My bibliography  Save this article

The Economics of Chaos or the Chaos of Economics

Author

Listed:
  • Kelsey, David

Abstract

This paper gives a simple account of nonlinear dynamics, focusing on cycles and chaos. There is a survey of economic models that involve chaos. The case where a chaotic system is subject to exogenous random shocks is discussed. Copyright 1988 by Royal Economic Society.

Suggested Citation

  • Kelsey, David, 1988. "The Economics of Chaos or the Chaos of Economics," Oxford Economic Papers, Oxford University Press, vol. 40(1), pages 1-31, March.
    • Handle: RePEc:oup:oxecpp:v:40:y:1988:i:1:p:1-31
    as

    Download full text from publisher

    File URL: http://links.jstor.org/sici?sici=0030-7653%28198803%292%3A40%3A1%3C1%3ATEOCOT%3E2.0.CO%3B2-L&origin=bc
    File Function: full text
    Download Restriction: Access to full text is restricted to JSTOR subscribers. See http://www.jstor.org for details.
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Hartwell, Christopher A., 2019. "Short waves in Hungary, 1923 and 1946: Persistence, chaos, and (lack of) control," Journal of Economic Behavior & Organization, Elsevier, vol. 163(C), pages 532-550.
    2. Frédéric Lordon, 1991. "Théorie de la croissance : quelques développements récents [Première partie : la croissance récente]," Revue de l'OFCE, Programme National Persée, vol. 36(1), pages 157-211.
    3. P Nijkamp & A Reggiani, 1990. "Logit Models and Chaotic Behaviour: A New Perspective," Environment and Planning A, , vol. 22(11), pages 1455-1467, November.
    4. Bullard, James & Butler, Alison, 1993. "Nonlinearity and Chaos in Economic Models: Implications for Policy Decisions," Economic Journal, Royal Economic Society, vol. 103(419), pages 849-867, July.
    5. Murakami, Hiroki, 2018. "Existence and uniqueness of growth cycles in post Keynesian systems," Economic Modelling, Elsevier, vol. 75(C), pages 293-304.
    6. Whitby, Simon & Parker, David & Tobias, Andrew, 2001. "Non-linear dynamics and duopolistic competition: a R&D model and simulation," Journal of Business Research, Elsevier, vol. 51(3), pages 179-191, March.
    7. Nijkamp, P. & Reggiani, A., 1990. "Impacts of multiple period lags in dynamic logit models," Serie Research Memoranda 0083, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics.
    8. Sandubete, Julio E. & Escot, Lorenzo, 2020. "Chaotic signals inside some tick-by-tick financial time series," Chaos, Solitons & Fractals, Elsevier, vol. 137(C).
    9. Ledenyov, Dimitri O. & Ledenyov, Viktor O., 2013. "Some thoughts on accurate characterization of stock market indexes trends in conditions of nonlinear capital flows during electronic trading at stock exchanges in global capital markets," MPRA Paper 49921, University Library of Munich, Germany.
    10. Nijkamp, P. & Poot, J., 1991. "Lessons from non-linear dynamic economics," Serie Research Memoranda 0105, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics.
    11. Nasir M. Khilji, 1994. "Nonlinear Dynamics and Chaos: Application to Financial Markets in Pakistan," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 33(4), pages 1417-1429.
    12. Barkley, Rosser Jr., 1996. "Complex economic dynamics: An introduction to dynamical systems and Market Mechanisms : Richard H. Day, Vol. I (MIT Press, Cambridge MA, 1994), pp. 333, $39.95," Journal of Economic Behavior & Organization, Elsevier, vol. 31(2), pages 293-296, November.
    13. Ali Khan, M. & Piazza, Adriana, 2011. "Optimal cyclicity and chaos in the 2-sector RSS model: An anything-goes construction," Journal of Economic Behavior & Organization, Elsevier, vol. 80(3), pages 397-417.
    14. Jos'e Pedro Gaiv~ao & Benito Pires, 2022. "Chaotic time series in financial processes consisting of savings with piecewise constant monthly contributions," Papers 2206.11933, arXiv.org, revised Feb 2023.
    15. Montoro, Juan D. & Paz, Jose V. & Roig, Miguel, 1998. "Active Monetary Policy and Instability in a Phillips Curve System," Journal of Macroeconomics, Elsevier, vol. 20(4), pages 843-856, October.
    16. Dufrenot Gilles & Mathieu Laurent, 1994. "Methods In Economics: Testing For Linearity," Journal des Economistes et des Etudes Humaines, De Gruyter, vol. 5(2-3), pages 1-16, June.
    17. Nijkamp, Peter & Reggiani, Aura, 1995. "Non-linear evolution of dynamic spatial systems. The relevance of chaos and ecologically-based models," Regional Science and Urban Economics, Elsevier, vol. 25(2), pages 183-210, April.
    18. Carolina Castaldi & Giovanni Dosi, 2003. "The Grip of History and the Scope for Novelty: Some Results and Open Questions on Path Dependence in Economic Processes," LEM Papers Series 2003/02, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
    19. Kopel, M. & Dawid, H. & Feichtinger, G., 1998. "Periodic and chaotic programs of intertemporal optimization models with non-concave net benefit function," Journal of Economic Behavior & Organization, Elsevier, vol. 33(3-4), pages 435-447, January.
    20. Nijkamp, P. & Reggiani, A., 1989. "Logit models and chaotic behaviour," Serie Research Memoranda 0054, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics.

    More about this item

    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:oup:oxecpp:v:40:y:1988:i:1:p:1-31. 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.

    We have no bibliographic references for this item. You can help adding them by using 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: Oxford University Press (email available below). General contact details of provider: https://academic.oup.com/oep .

    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.