Chaos and Non-Linear Models in Economics
Theory and Applications
Published on 1. January 1994
Book
Hardback
240 pages
978-1-85278-722-6 (ISBN)
Description
Non-linear models are increasingly being applied to phenomena that are otherwise very difficult to model such as financial markets, economic growth, agricultural price cycles, business cycles, diffusion processes and overlapping generation models. Chaos and Non-Linear Models in Economics makes important advances in the theory and application of non-linear modelling accessible to advanced students. The contributions to this volume include both introductory chapters which review the fundamental theoretical and statistical characteristics of non-linear models - and keep the use of mathematics to a minimum - and chapters which introduce more sophisticated techniques.
Reviews / Votes
'Overall, I found this book extremely easy to read. . . . The great strength of the exposition lies in the efforts of all the contributors to present ideas simply and to attempt to relate the various approaches to concrete empirical problems in economic settings. The book should prove invaluable on a range of advanced economics courses which contain a component which deals with non-linear dynamics.' -- John Foster, The Economic Record'This book can attract the attention of readers as well as can probe the minds of readers on what actually constitutes a chaotic process and how it can be captured.'- Lini R. Nair, KyklosMore details
Language
English
Place of publication
Cheltenham
United Kingdom
Target group
College/higher education
Dimensions
Height: 234 mm
Width: 156 mm
ISBN-13
978-1-85278-722-6 (9781852787226)
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Schweitzer Classification
Persons
Edited by John Creedy, Wellington School of Business and Government, Victoria University of Wellington, New Zealand and Vance L. Martin, former Associate Professor in Economics, University of Melbourne, Australia
Content
Contents: 1. Introduction and Outline Part I: Theory of Non-Linear Models 2. The Strange Attraction of Chaos in Economics (J. Creedy and V.L. Martin) 3. Fractal Geometry (V.L. Martin) 4. The Logistic Family of Discrete Dynamic Models (R. Dixon) 5. Towards a Theory of Non-Linear Models (V.L. Martin) 6. Multiple Equilibria in Simple Exchange Models (J. Creedy and V.L. Martin) 7. A Model of the Distribution of Prices (J. Creedy and V.L. Martin) Part II: Estimation and Testing of Non-Linear Models 8. Statistical Techniques for Modelling Non-Linearities (V.L. Martin and K. Sawyer) 9. Non-Linear Time Series Modelling and Distributional Flexibility (J. Lye and V.L. Martin) 10. Robust Estimation with the Generalized Exponential Family (J. Lye and V.L. Martin) Part III: Chaos and Financial Markets 11. Forecasting in Financial Markets (D. Elms) 12. Non-Linearities and Chaos in Exchange Rates (J. Ellis) 13. Non-Linearities and the Long-Run Real Exchange Rate Distribution (J. Creedy, J. Lye and V.L. Martin) References Index