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Complex Systems Approach to Economic Dynamics

Abraham C.-L. Chian (Autor)

Buch | Softcover

X, 101 Seiten

2007
Springer Berlin (Verlag)
978-3-540-39752-6 (ISBN)

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Economic Systems exhibit complex dynamics evidenced by large-amplitude and aperiodic fluctuations in economic variables, such as foreign exchange rates and stock market prices, indicating that these systems are driven far from the equilibrium. Characterization of the complex behavior of economic cycles, by identifying regular and irregular patterns and regime switching in economic time series, is the key for pattern recognition and forecasting of economic cycles. Statistical analysis of stock markets and foreign exchange markets has demonstrated the intermittent nature of economic time series. A nonlinear model of business cycles is able to simulate intermittency arising from order-chaos and chaos-chaos transitions. This monograph introduces new concepts of unstable periodic orbits and chaotic saddles which are unstable structures embedded in a chaotic attractor, responsible for economic intermittency.

Nonlinear Dynamics of Economic Cycles.- Type-I Intermittency in Nonlinear Economic Cycles.- Crisis-Induced Intermittency in Nonlinear Economic Cycles.- Attractor Merging Crisis in Nonlinear Economic Cycles.- Chaotic Transients in Nonlinear Economic Cycles.- Conclusion.

Erscheint lt. Verlag	13.7.2007
Reihe/Serie	Lecture Notes in Economics and Mathematical Systems
Zusatzinfo	X, 101 p.
Verlagsort	Berlin
Sprache	englisch
Maße	155 x 235 mm
Gewicht	188 g
Themenwelt	Wirtschaft ► Allgemeines / Lexika
Themenwelt	Wirtschaft ► Volkswirtschaftslehre
Schlagworte	Business Cycles • Chaos • Complex System • Complex Systems • Economic Dynamics • Nonlinear Dynamics • pattern recognition • Statistical Analysis
ISBN-10	3-540-39752-3 / 3540397523
ISBN-13	978-3-540-39752-6 / 9783540397526
Zustand	Neuware