This book makes the case that economies are complex systems and in response to this, develops a unique dynamic nonequilibrium process analysis of macroeconomics. It provides a brief introduction to complex systems, chaos theory and unit roots. The importance and implications of contingency for...

Introduction / Carl Chiarella, Peter Flaschel, Reiner Franke, Willi Semmler -- New Keynesian theory and the new Phillips curves : a competing approach / Peter Flaschel, Ekkehart Schlicht -- Keynesian theory and the AD-AS framework : a reconsideration / Amitava Krishna Dutt, Peter Skott -- AD-AS...

We propose a new four state model for disease transmission and illustrate the model with data from the 2003 SARS epidemic in Hong Kong. The critical feature of this model is that the community is modelled as a small-world network of interconnected nodes. Each node is linked to a fixed number of...

Tsallis [Physica A 340 (2004) 1] identified a set of numbers, the “q-triplet” ≡{qstat, qsen, qrel}, for a system described by nonextensive statistical mechanics. The deviation of the q's from unity is a measure of the departure from thermodynamic equilibrium. We present observations of the...

We present a numerical method that allows a formation of communicating agents to target the boundary of a time-dependent concentration by following a time-dependent concentration gradient. The algorithm motivated by [3,1], allows the agents to move in space in a non-stationary environment. Our...

A parsimonious percolation model for stock market is proposed, of which the avalanche dynamics agree with the real-life one as well. We have also investigated how the interaction parameter p affects the price dynamics. Simulation results about the formation of the bullish/bearish market and...