We analyse the workings of a simple non-linear exchange rate model in which agents hold different beliefs about the underlying model. We distinguish between chartists and fundamentalists . The non-linearities in the model originate from transactions costs and from the existence of non-linear...

Die Koordination der betrieblichen Teilbereiche ist im arbeitsteiligen System Unternehmung eine notwendige Voraussetzung für erfolgreiches Agieren am Markt. Die Arbeit hat zum Ziel, in der betrieblichen Praxis eingesetzte Koordinationsinstrumente auf ihre Wirkung in einem nichtlinearen,...

We provide a unified framework for analyzing bootstrapped extremum estimators of nonlinear dynamic models for heterogeneous dependent stochastic processes. We apply our results to the moving blocks bootstrap of Kunsch (1989) and Liu and Singh (1992) and prove the first order asymptotic validity...

Despite many previous studies on the association between hyperthyroidism and the hyperadrenergic state, controversies still exist. Detrended fluctuation analysis (DFA) is a well recognized method in the nonlinear analysis of heart rate variability (HRV), and it has physiological significance...

Ecological systems are complex assemblies of large numbers of individuals, interacting competitively under multifaceted environmental conditions. Recent studies using microbial laboratory communities have revealed some of the self-organization principles underneath the complexity of these...

Previous studies on thermal engine models and energy-converting biological systems have shown that some of the parameters affecting their thermodynamic performance also affect their dynamic stability. In some cases, such parameters represent a tradeoff between these two generic properties. In...

George Soros's theory of reflectivity focuses on the interactions between expected, actual, and fundamental values of variables. The fundamental values are affected by the historically contingent paths of the other two variables so that the equilibrating process is turbulent, path dependent...

This study investigates the presence of deterministic dependencies in international stock markets using recurrence plots and recurrence quantification analysis (RQA). The results are based on a large set of free float-adjusted market capitalization stock indices, covering a period of 15 years....

The deterministic extended-path (EP) method for solving dynamic stochastic optimisation problems approximates conditional expectations instead of approximating a model's complex non-linear dynamics. For a benchmark real business cycle model we show that this straightforward approach provides...