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Global recessions as a cascade phenomenon with interacting agents

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  • Paul Ormerod
  • Amy Heineike

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Suggested Citation

  • Paul Ormerod & Amy Heineike, 2009. "Global recessions as a cascade phenomenon with interacting agents," Journal of Economic Interaction and Coordination, Springer;Society for Economic Science with Heterogeneous Interacting Agents, vol. 4(1), pages 15-26, June.
    • Handle: RePEc:spr:jeicoo:v:4:y:2009:i:1:p:15-26
    DOI: 10.1007/s11403-009-0044-z
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    References listed on IDEAS

    as
    1. Eichengreen, Barry & Rose, Andrew K & Wyplosz, Charles, 1996. "Contagious Currency Crises," CEPR Discussion Papers 1453, C.E.P.R. Discussion Papers.
    2. Gaffeo, Edoardo & Gallegati, Mauro & Giulioni, Gianfranco & Palestrini, Antonio, 2003. "Power laws and macroeconomic fluctuations," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 324(1), pages 408-416.
    3. Giorgio Fagiolo & Javier Reyes & Stefano Schiavo, 2008. "The World-Trade Web: Topological Properties, Dynamics, and Evolution," LEM Papers Series 2008/16, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
    4. Romer, Christina D., 1994. "Remeasuring Business Cycles," The Journal of Economic History, Cambridge University Press, vol. 54(3), pages 573-609, September.
    5. Ausloos, Marcel & Miśkiewicz, Janusz & Sanglier, Michèle, 2004. "The durations of recession and prosperity: does their distribution follow a power or an exponential law?," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 339(3), pages 548-558.
    6. repec:hal:spmain:info:hdl:2441/9771 is not listed on IDEAS
    7. M. Goldstein & S. Morris & G. Yen, 2004. "Problems with fitting to the power-law distribution," The European Physical Journal B: Condensed Matter and Complex Systems, Springer;EDP Sciences, vol. 41(2), pages 255-258, September.
    8. Arthur F. Burns & Wesley C. Mitchell, 1946. "Measuring Business Cycles," NBER Books, National Bureau of Economic Research, Inc, number burn46-1, March.
    9. Bikhchandani, Sushil & Hirshleifer, David & Welch, Ivo, 1992. "A Theory of Fads, Fashion, Custom, and Cultural Change in Informational Cascades," Journal of Political Economy, University of Chicago Press, vol. 100(5), pages 992-1026, October.
    10. repec:hal:wpspec:info:hdl:2441/9771 is not listed on IDEAS
    11. John Foster & Burkhard Flieth, 2002. "Interactive expectations," Journal of Evolutionary Economics, Springer, vol. 12(4), pages 375-395.
    12. Redelico, Francisco O. & Proto, Araceli N. & Ausloos, Marcel, 2008. "Power law for the duration of recession and prosperity in Latin American countries," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 387(25), pages 6330-6336.
    13. Michael D. Bordo & Thomas Helbling, 2003. "Have National Business Cycles Become More Synchronized?," NBER Working Papers 10130, National Bureau of Economic Research, Inc.
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    More about this item

    Keywords

    Cascades; Recessions; International transmission; Interacting agents; C69; E32; N10;
    All these keywords.

    JEL classification:

    • C69 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Other
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • N10 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - General, International, or Comparative

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