Nonlinear Dynamics in Equilibrium Models - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Nonlinear Dynamics in Equilibrium Models write by John Stachurski. This book was released on 2012-01-25. Nonlinear Dynamics in Equilibrium Models available in PDF, EPUB and Kindle. Optimal growth theory studies the problem of efficient resource allocation over time, a fundamental concern of economic research. Since the 1970s, the techniques of nonlinear dynamical systems have become a vital tool in optimal growth theory, illuminating dynamics and demonstrating the possibility of endogenous economic fluctuations. Kazuo Nishimura's seminal contributions on business cycles, chaotic equilibria and indeterminacy have been central to this development, transforming our understanding of economic growth, cycles, and the relationship between them. The subjects of Kazuo's analysis remain of fundamental importance to modern economic theory. This book collects his major contributions in a single volume. Kazuo Nishimura has been recognized for his contributions to economic theory on many occasions, being elected fellow of the Econometric Society and serving as an editor of several major journals. Chapter “Introduction” is available open access under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License via link.springer.com.
Price Dynamics in Equilibrium Models
Price Dynamics in Equilibrium Models - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Price Dynamics in Equilibrium Models write by Jan Tuinstra. This book was released on 2012-12-06. Price Dynamics in Equilibrium Models available in PDF, EPUB and Kindle. A long-standing unsolved problem in economic theory is how economic equilibria are attained. Price Dynamics in Equilibrium Models: The Search for Equilibrium and the Emergence of Endogenous Fluctuations considers a number of adjustment processes in different economic models and investigates their dynamical behaviour. Two important themes arising in this context are `bounded rationality' and `nonlinear dynamics'. Important sub-themes of the book are the following: how do boundedly rational agents interact with their environment and does this interaction in some sense lead to rational outcomes (which may or may not correspond to equilibria)? The second sub-theme deals with the consequences of the nonlinear dynamical nature of many adjustment processes. The results presented in this volume indicate that endogenous fluctuations are the rule rather than the exception in the search for equilibrium. The book uses the theory of nonlinear dynamics to analyze the dynamics of the different economic models. Due to the complexity of most of the models, an important role is played by computational methods. In particular, at regular instances the models are analyzed by numerical simulations and some computer-assisted proofs are provided. It also covers a wide range of dynamical models from economic theory. Most of these models merge the theory of nonlinear economic dynamics with the theory of bounded rationality. The book is written for anyone with an interest in economic theory in general and bounded rationality and endogenous fluctuations in particular. It is entirely self-contained and accessible to readers with only a limited knowledge of economic theory.
Nonlinear Dynamics in Economics
Nonlinear Dynamics in Economics - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Nonlinear Dynamics in Economics write by Bärbel Finkenstädt. This book was released on 2012-12-06. Nonlinear Dynamics in Economics available in PDF, EPUB and Kindle. 1. 1 Introduction In economics, one often observes time series that exhibit different patterns of qualitative behavior, both regular and irregular, symmetric and asymmetric. There exist two different perspectives to explain this kind of behavior within the framework of a dynamical model. The traditional belief is that the time evolution of the series can be explained by a linear dynamic model that is exogenously disturbed by a stochastic process. In that case, the observed irregular behavior is explained by the influence of external random shocks which do not necessarily have an economic reason. A more recent theory has evolved in economics that attributes the patterns of change in economic time series to an underlying nonlinear structure, which means that fluctua tions can as well be caused endogenously by the influence of market forces, preference relations, or technological progress. One of the main reasons why nonlinear dynamic models are so interesting to economists is that they are able to produce a great variety of possible dynamic outcomes - from regular predictable behavior to the most complex irregular behavior - rich enough to meet the economists' objectives of modeling. The traditional linear models can only capture a limited number of possi ble dynamic phenomena, which are basically convergence to an equilibrium point, steady oscillations, and unbounded divergence. In any case, for a lin ear system one can write down exactly the solutions to a set of differential or difference equations and classify them.
Special Issue in Honor of Kazuo Nishimura on Nonlinear Dynamics in Equilibrium Models
Special Issue in Honor of Kazuo Nishimura on Nonlinear Dynamics in Equilibrium Models - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Special Issue in Honor of Kazuo Nishimura on Nonlinear Dynamics in Equilibrium Models write by John Stachursky. This book was released on 2012. Special Issue in Honor of Kazuo Nishimura on Nonlinear Dynamics in Equilibrium Models available in PDF, EPUB and Kindle.
Nonlinear Economic Dynamics
Nonlinear Economic Dynamics - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Nonlinear Economic Dynamics write by Tönu Puu. This book was released on 2012-12-06. Nonlinear Economic Dynamics available in PDF, EPUB and Kindle. The present study is a preliminary draft on nonlinear economic dynamics, with which the author has been concerned the last years. It grew out from the joint work by Professor Martin Beckmann and the present author on nonlinear statics in spatial economics, Beckmann and Puu, "Spatial Economics" (North-Holland 1985). The monograph mentioned contains sections on price waves and business cycles, but in a linear format. The rest is static theory. The author has finally come to the conviction that linear dynamic modelling has very little to yield. This is due to the poor set of alternatives -decay or explosion of motion -pertinent to linear models. Therefore, the present work centres on non-linearity. Another distinction is that only purely causal models are dealt with, as those formatted as inter-temporal equilibria hardly belong to the more restricted field of dynamics. The spatial origin is visible in the choice of models. Chapter 2 summarizes the work by the author on the structural stability of continuous spatial market equilibrium models. Chapter 3 deals with a re-fonnulation of the ingenious population growth and diffusion model invented by the young Hotelling in 1921. Chapter 4 is a detailed digression on business cycle models in a continuous spatial format with inter-regional trade.
