Nonlinear Dynamical Economics and Chaotic Motion

Abstract

The first edition was published in 1989 as volume 334 of the series "Lecture Notes in Economics and Mathematical Systems".

Endogenous Technological Change, Innovation Diffusion and Transitional Dynamics in a Nonlinear Growth Model*

“…Beyond this, chaotic fluctuations emerge which resemble random noise, although there are also stable cycles in this range (see e.g. Lorenz (1989) for a review). In equation (32), cc = 1 + X o 2 *F and, hence, cc increases over time due to the accumulation of capital described by (26).…”

Lessons from Nonlinear Dynamic Economics

“…He studied economie dynamics by means of an accelerator-multiplier framework for persistent, deterministic oscillations as an endogenous result of a dynamic economie system (see for a survey Goodwin, 1982 Scheinkman (1990), Baumol and Benhabib (1989), Baumol and Quandt (1985), Chen (1988), Kelsey (1988) and Lorenz (1989).…”

Application of nonlinear time series analysis techniques to high-frequency currency exchange data

“…Specifically, in the last decades there have been a considerable amount of discussion about the characterization of financial time series using the theory of Brownian motion (Osborne,1959;Malkiel, 1990), fractional Brownian motion (Mandelbrot, 1998), nonlinearity (Brock et al, 1991), chaos and fractals (Hsieh, 1991;Lorenz, 1993;Peters, 1996), scaling behaviour Stanley, 1995 and, and self organized criticality (Bak and Chen, 1991;Shlesinger et al, 1993). The problem of characterizing financial time series is still an open question.…”