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Nonlinear and Complex Dynamics in Economics

Author

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  • William A. Barnett

    (Washington University in St. Louis)

  • Alfredo Medio

    (University of Venice)

  • Apostolos Serletis

    (University of Calgary)

Abstract

This paper surveys both the theoretical and empirical economics literatures on nonlinearity, complex dynamics, and chaos. Unlike earlier survey papers, this one is written for professional researchers in the area and assumes relevant mathematical background. Unsolved problems and unresolved issues in that literature are emphasized.

Suggested Citation

  • William A. Barnett & Alfredo Medio & Apostolos Serletis, 1997. "Nonlinear and Complex Dynamics in Economics," Econometrics 9709001, University Library of Munich, Germany.
  • Handle: RePEc:wpa:wuwpem:9709001
    Note: Type of Document - Tex; prepared on IBM PC; pages: 88 ; figures: 9 included. This is an advanced survey of complex dynamics, nonlinearity, and chaos in economics.
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    Cited by:

    1. Barnett William A. & Jawadi Fredj & Ftiti Zied, 2020. "Causal relationships between inflation and inflation uncertainty," Studies in Nonlinear Dynamics & Econometrics, De Gruyter, vol. 24(5), pages 1-26, December.
    2. William A. Barnett & Yijun He, 1999. "Center Manifold, Stability, and Bifurcations in Continuous Time Macroeconometric Systems," Macroeconomics 9901002, University Library of Munich, Germany.
    3. Orzeszko, Witold, 2008. "The new method of measuring the effects of noise reduction in chaotic data," Chaos, Solitons & Fractals, Elsevier, vol. 38(5), pages 1355-1368.
    4. Barnett, William A. & Serletis, Apostolos & Serletis, Demitre, 2015. "Nonlinear And Complex Dynamics In Economics," Macroeconomic Dynamics, Cambridge University Press, vol. 19(8), pages 1749-1779, December.
    5. Gomes, Orlando, 2013. "Information stickiness on general equilibrium and endogenous cycles," Economics - The Open-Access, Open-Assessment E-Journal, Kiel Institute for the World Economy (IfW), vol. 7, pages 1-43.
    6. Orlando Gomes, 2007. "Routes to chaos in macroeconomic theory," Journal of Economic Studies, Emerald Group Publishing, vol. 33(6), pages 437-468, January.
    7. Orlando Gomes, 2006. "Endogenous Business Cycles in the Ramsey Growth Model," Zagreb International Review of Economics and Business, Faculty of Economics and Business, University of Zagreb, vol. 9(2), pages 13-36, November.
    8. Vivaldo M. Mendes & Diana A. Mendes, 2007. "Controlling Endogenous Cycles in an OLG Economy by the OGY Method," Working Papers Series 1 ercwp0808, ISCTE-IUL, Business Research Unit (BRU-IUL).
    9. Apostolos Serletis & Khandokar Istiak, 2018. "Broker-dealer Leverage and the Stock Market," Open Economies Review, Springer, vol. 29(2), pages 215-222, April.
    10. Orlando Gomes, 2006. "Routes to chaos in macroeconomic theory," Journal of Economic Studies, Emerald Group Publishing, vol. 33(6), pages 437-468, November.
    11. Libo Xu & Apostolos Serletis, 2019. "Communication frictions, sentiments, and nonlinear business cycles," International Journal of Economic Theory, The International Society for Economic Theory, vol. 15(2), pages 137-152, June.
    12. Miguel Henry & George Judge, 2019. "Permutation Entropy and Information Recovery in Nonlinear Dynamic Economic Time Series," Econometrics, MDPI, Open Access Journal, vol. 7(1), pages 1-16, March.
    13. Nakamura, Emi, 2005. "Inflation forecasting using a neural network," Economics Letters, Elsevier, vol. 86(3), pages 373-378, March.
    14. Vivaldo M. Mendes & Diana A. Mendes, 2006. "Active Interest Rate Rules and the Role of Stabilization Policy R&D Tax Credits," Working Papers Series 1 ercwp0208, ISCTE-IUL, Business Research Unit (BRU-IUL).
    15. Haider, Adnan & Hanif, Muhammad Nadeem, 2007. "Inflation Forecasting in Pakistan using Artificial Neural Networks," MPRA Paper 14645, University Library of Munich, Germany.

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    More about this item

    Keywords

    complex dynamics nonlinearity chaos;

    JEL classification:

    • C1 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General
    • D5 - Microeconomics - - General Equilibrium and Disequilibrium
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • C5 - Mathematical and Quantitative Methods - - Econometric Modeling

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