The purpose of this paper is to show how the stability properties of non-linear dynamic models may be characterized and studied, where the degree of stability is defined by the effects of exogenous shocks on the evolution of the observed stochastic system. This type of stability concept is...

The aim of this article is to demonstrate how the change in actual and potential market risks in the Dow Jones Industrial Average (DJIA) during the 2-year period 2007 to 2008 can be analysed with the help of (<italic>λ</italic>, <italic>σ</italic> -super-2)-analysis. In the empirical analysis, the average of the Lyapunov...

We show that the Matthew effect, or Matthew mechanism, was present in the artificial cultural market Music Lab in one-fourth of the “worlds” when social influence between individuals was allowed, whereas this effect was not present in the “world” that disallowed social influence between...

The purpose of this paper is to show how the stability properties of non-linear dynamic models may be characterized and studied, where the degree of stability is defined by the effects of exogenous shocks on the evolution of the observed stochastic system. This type of stability concept is...

The purpose of this paper is to show how the stability properties of non-linear dynamic models may be characterized and studied, where the degree of stability is defined by the effects of exogenous shocks on the evolution of the observed stochastic system. This type of stability concept is...

Purpose – Questionnaire surveys made at currency markets around the world reveal that currency trade to a large extent not only is determined by an economy's performance or expected performance. Indeed, a fraction is guided by technical trading, which means that past exchange rates are assumed...

When modelling demand for addictive consumption goods, the most widely used framework is the rational addiction model proposed by Becker and Murphy. This paper extends the rational addiction model to include two addictive consumption goods, alcohol and cigarettes, and using aggregate annual time...

We embed different instrument rules into Gal?and Monacelli's new Keynesian model for a small open economy that is augmented with technical trading in currency trade to examine the prerequisites for monetary policy. Specifically, conditions for a determinate and least squares learnable REE are in...