Chaotic Footloose Capital

Commendatore, Pasquale; Currie, Martin; Kubin, Ingrid

doi:10.1037/e666492007-001

Cited by 5 publications

(12 citation statements)

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“…of coexisting stable attractors. Our analysis of a FC model with first nature firms specified in discrete time shows that in contrast to Commendatore et al (2007) and in line with the standard continuous-time version of the FC model, Core-Periphery equilibria are no longer possible stable fixed points of the dynamic system. However, the result that the continuous time formulation hides complex dynamic patterns is widely reinforced by the analysis of our FC model with first nature firms.…”

mentioning

confidence: 84%

“…We do not present here the details of its derivation (but the reader can refer to Commendatore et al (2007)). Due to the assumption of symmetric regions, we can write…”

Section: Short-run General Equilibriummentioning

confidence: 99%

“…It was shown elsewhere (see e.g. Commendatore et al 2007Commendatore et al , 2010) that reformulating these models in discrete time enriches the possible dynamic patterns.…”

mentioning

confidence: 97%

“…The result of full agglomeration of manufacturing in one region (the so called Core-Periphery equilibria), that may emerge in less simplified NEG models does not occur. Commendatore et al (2007) reformulate the FC model in discrete time showing that the possible long-run dynamical behaviors are dramatically enriched: "periodic or chaotic coexistence of manufacturing in both regions", "catastrophic agglomeration", "multiple attractors", "hysteresis" may be observed. The possibility of highly volatile catastrophic agglomeration is highlighted by the presence of fractal basins boundaries for the Core-Periphery equilibria (see Commendatore et al 2010).…”

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confidence: 99%

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Border Collision Bifurcations in a Footloose Capital Model with First Nature Firms

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confidence: 84%

“…We do not present here the details of its derivation (but the reader can refer to Commendatore et al (2007)). Due to the assumption of symmetric regions, we can write…”

Section: Short-run General Equilibriummentioning

confidence: 99%

“…It was shown elsewhere (see e.g. Commendatore et al 2007Commendatore et al , 2010) that reformulating these models in discrete time enriches the possible dynamic patterns.…”

mentioning

confidence: 97%

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confidence: 99%

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Border Collision Bifurcations in a Footloose Capital Model with First Nature Firms

et al. 2011

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“…On the other hand, the demand effect of public expenditures will be offset by (or even act in the same direction of) the 16 In this interval, the long-term location of the overall manufacturing sector is highly sensitive to the initial condition 0 λ . See Commendatore, Currie and Kubin (2007). 30 productivity effect if the government let the tax payers of the richer region contribute on the basis of their capacity.…”

Section: Discussionmentioning

confidence: 99%

Footloose Capital and Productive Public Services

Commendatore¹,

Kubin²,

Petraglia³

2009

Geography, Structural Change and Economic Development

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-We analyse in a Footloose Capital productive public services provided by a central government aiming at reducing regional disparities. Two countervailing effects occur -one upon productivity and another upon local demand -the relative strength of which depends upon the financing scheme. Only if the "rich" region contributes sufficiently to the financing of the public services in the "poor" region, the poor region will actually gain. In studying these questions we pay particular attention to the dynamic adjustment processes and to the role of trade freeness.

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Complex Evolutionary Dynamics in Urban-Regional and Ecologic-Economic Systems

Rosser

2011

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except for brief excerpts in connection with reviews or scholarly analysis. Use in connection with any form of information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed is forbidden. The use in this publication of trade names, trademarks, service marks, and similar terms, even if they are not identified as such, is not to be taken as an expression of opinion as to whether or not they are subject to proprietary rights.Printed on acid-free paper Springer is part of Springer Science+Business Media (www.springer.com) PrefaceThis is, therefore, the intensest rendezvous. It is in that thought that we collect ourselves, Out of all the indifferences, into one thing:Within a single thing, a single shawl Wrapped tight round us, since we are poor, a warmth, A light, a power, the miraculous influence.Here now, we forget each other and ourselves. We feel the obscurity of an order, a whole. . . Wallace Stevens, 1950, Final Soliloquy of the Interior ParamourWithin the past decade we have seen on the one hand the majority of the world's population come to reside in urban areas for the first time in world history, while on the other we have seen a dramatic rise in average global temperature widely thought to be mostly due to the economic activities humans carry out in those urban areas. Nonlinear complex dynamics are profoundly involved in both of these related developments. This book will open with considering the historical forces behind this rise of cities, including some critiques of certain recent ideas of "new economic geography," and will conclude (except for a mathematical appendix) with a consideration of the science and economics of global warming and how to deal with it in the face of the uncertainties arising from these nonlinear complex dynamics, which will reflect the unique perspective of this author having been involved with climatological research for more than 35 years. In between there will be discussions of broader regional economic dynamics, the foundations of evolutionary theory, and the dynamics of ecologic-economic systems. A deep theme is that in all of these areas, nonlinear complex dynamics can result in discontinuities, such as sudden changes of urban growth patterns or the sudden crashes of biological populations harvested by human beings. These discontinuities can appear with little warning and can serve as the basis for the theories of unexpected events such as "black swans" as proposed by Nassim Taleb (2010).

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Chaotic Footloose Capital

Cited by 5 publications

References 5 publications

Border Collision Bifurcations in a Footloose Capital Model with First Nature Firms

Border Collision Bifurcations in a Footloose Capital Model with First Nature Firms

Footloose Capital and Productive Public Services

Complex Evolutionary Dynamics in Urban-Regional and Ecologic-Economic Systems

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