Nonlinearities in economics an interdisciplinary approach to economic dynamics, growth and cycles
This interdisciplinary book argues that the economy has an underlying non-linear structure and that business cycles are endogenous, which allows a greater explanatory power with respect to the traditional assumption that dynamics are stochastic and shocks are exogenous. The first part of this work i...
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| Weitere Verfasser: | , , |
| Format: | UnknownFormat |
| Sprache: | eng |
| Veröffentlicht: |
Cham
Springer
2021
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| Schriftenreihe: | Dynamic modeling and econometrics in economics and finance
volume 29 |
| Schlagworte: | |
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Tag hinzufügen | Zusammenfassung: | This interdisciplinary book argues that the economy has an underlying non-linear structure and that business cycles are endogenous, which allows a greater explanatory power with respect to the traditional assumption that dynamics are stochastic and shocks are exogenous. The first part of this work is formal-methodological and provides the mathematical background needed for the remainder, while the second part presents the view that signal processing involves construction and deconstruction of information and that the efficacy of this process can be measured. The third part focuses on economics and provides the related background and literature on economic dynamics and the fourth part is devoted to new perspectives in understanding nonlinearities in economic dynamics: growth and cycles. By pursuing this approach, the book seeks to (1) determine whether, and if so where, common features exist, (2) discover some hidden features of economic dynamics, and (3) highlight specific indicators of structural changes in time series. Accordingly, it is a must read for everyone interested in a better understanding of economic dynamics, business cycles, econometrics and complex systems, as well as non-linear dynamics and chaos theory FM -- Introduction -- Part I: Mathematical background -- Dynamical systems -- An example of nonlinear dynamical system: The Logistic Map -- Bifurcations -- From local bifurcations to global dynamics: Hopf systems from the applied perspective -- Chaos -- Embedding and mutual information -- Part II: Signal analysis and modelling tools for economic systems -- Signal Processing -- Applied spectral analysis -- Recurrence quanti cation analysis: theory and applications -- Part III: Emergence of cycles and growth in economics -- On business cycles and growth -- Trade-cycle oscillations: The Kaldor model and the Keynesian Hansen-Samuelson principle of acceleration and multiplier -- The Harrod model -- Growth and cycles as a struggle: Lotka-Volterra, Goodwin and Phillips -- Stable periodic economic cycles from controlling -- Part IV: New horizons for understanding economics -- Kaldor-Kalecki new model on business cycles -- Recurrence Quanti cation Analysis of Business Cycles -- An empirical test on Harrod's model -- Testing a Goodwin's model with capacity utilization to the US Economy -- Financial Stress, Regime Switching and Macrodynamics -- BM. |
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| Beschreibung: | "He would also like to express his sincere gratitude and appreciation to Carlo Lucheroni at the University of Camerino for numerous helpful comments, to Nicola Basile at the University of Bari for valuable suggestions provided, to Luigi Fortuna and his colleagues at the University of Catania for having organized the NDES2019 - NonlinearDynamics of Electronic Systems Conference and to Edward Bace at theMiddlesex University for his help in polishing some of the chapters." - Seite ix |
| Beschreibung: | xiv, 361 Seiten Diagramme |
| ISBN: | 9783030709815 978-3-030-70981-5 9783030709846 978-3-030-70984-6 |