We re-examine the Systemic Cycles of Accumulation (SCA) of Arrighi (2010) and Arrighi and Silver (1999) which provide a framework for the analysis of the cyclical patterns of geographical expansion of trade and production and the related shifts of hegemonic power within the world capitalist...

Based on the seminal asset-pricing model by Brock and Hommes (1998), we analytically show that higher wealth taxes increase the risky asset’s fundamental value, enlarge its local stability domain, may prevent the birth of nonfundamental steady states and, if they exist, reduce the risky...

We develop a cobweb model in which firms, facing a two-period production delay, have access to a flexible (costly) and an inflexible (cheap) production technology. Moreover, firms select between production technologies depending on theirevolutionary fitness, measured in terms of past realized...

Unlike linear ones, nonlinear business cycle models can generate sustained fluctuations even in the absence of shocks (e.g., via limit cycles/chaos). A popular approach to solving nonlinear models is perturbation methods. I show that, as typically implemented, these methods are incapable of...

This paper used the composite construction method proposed by Haugen (1999) and its application by Zhao and Wang (2010) for the Chinese stock market. Utilizing the Shanghai A-share market stocks data, this paper first selected the shares listed on the Shanghai Stock Exchange during January 1,...

Business cycles are oscillations in the economy because of recessions and expansions. In this paper we investigate the oscillation of the gross domestic product as a result of its relations with the other main macroeconomic variables such as capital, consumption, and investment.There is a...

The purpose of this paper is to construct a structural macroeconomic model to design monetary and fiscal policies aimed at attaining macroeconomic objectives. The study further attempts to simulate a baseline and policy scenario to evaluate the impact of such monetary and fiscal policy...

Complex systems are characterized by deterministic laws (which often may be hidden) and randomness. A tool to analyse those systems is recurrence quantification analysis (RQA). RQA does not rely on any sort of assumption of stationarity and is not sensitive to singularities and transitions. It...

When a system becomes unstable or noise becomes excessive, often regulations of the form of limiters (barriers obstructing excursion into undesired areas of the phase space) are imposed. It is hoped that by the influence of this element, the system can be calmed and its behaviour can be...

R.G. Goodwin mentioned that "economists will be led, as natural scientists have been led, to seek in nonlinearities an explanation of the maintenance of oscillation" (Goodwin, Econometrica 19(1), 1951); following this reasoning, we studied business cycles as if they were generated by nonlinear...

After having illustrated in Chap. 13 the Harrod’s model and a chaotic specification of it, in this Chapter we are going to prove that (1) real data could be obtained by a suitable calibration of model’s parameters, (2) the calibrated model confirms theoretical predictions (Orlando and Della...

Preface -- Chapter 1. Catastrophes and agent-based models -- Chapter 2. BLUESSS simulation package -- Chapter 3. Behavior patterns of an artificial society -- Chapter 4. Extended prey-predator model -- Chapter 5. Stock market: Uncertainty and catastrophes -- Chapter 6. Epidemics -- Chapter 7....

"This book aims to identify what makes companies that work in organizational chaos and in a chaotic economic environment perform better than companies that are well organized while also presenting management techniques and sustainability strategies for handling disruptive situations in corporate...

In this paper the author analyzes the behavior of exchange rates expectations for four currencies, by considering a re-calculation and an extension of Resende and Zeidan (Expectations and chaotic dynamics: Empirical evidence on exchange rates, Economics Letters, 2008). Considering Lyapunov...

In this paper the author analyzes the behavior of exchange rates expectations for four currencies, by considering a re-calculation and an extension of Resende and Zeidan (Expectations and chaotic dynamics: empirical evidence on exchange rates, Economics Letters, 2008). Considering Lyapunov...

This research has been motivated by the excesses of public policy since 2008 in an attempt to re-inflate the housing markets. Is it even possible or desirable to utilize such a vast amount of public resources to inflate a single sector such as housing that suffered from such a spectacular bubble...

Cover -- Contents -- Preface -- Acknowledgments -- Chapter 1: Competitive MarketDynamics -- Chapter 2: Contextual Market Entropy -- Chapter 3: Innovation and Technology -- Chapter 4: Cognitive Ergonomics -- Chapter 5: Managing Market Chaos -- About the Author -- Index -- Ad-Page -- Backcover.

"This volume presents a new perspective on demographic transition, economic growth, and national development via exploration of the Third World economies. It provides a multidimensional approach to the close relationship between the concept of the chaos and complexity theory and provides a...

The new learning dynamic of Brown, von Neuman and Nash (1950) is introduced to macroeconomic dynamics via the cobweb model with rational and naive forecasting strategies. This dynamic has appealing properties such as positive correlation and inventiveness. There is persistent heterogeneity in...