Cycles and Chaos in Economic Equilibrium edited by Jess Benhabib.

Format:

Book

Author/Creator:

Benhabib, Jess, Author.

Contributor:

Benhabib, Jess, 1948-

Language:

English

Subjects (All):

Equilibrium (Economics)--Econometric models.

Business cycles--Econometric models.

Equilibrium (Economics)--Mathematical models.

Business cycles--Mathematical models.

Équilibre (Économie politique)--Modeles econometriques.

Équilibre (Économie politique).

Cycles economiques--Modeles mathematiques.

Cycles economiques.

Equilibrium (Economics).

Business cycles.

Genre:

Aufsatzsammlung.

Physical Description:

1 online resource (490 pages) : illustrations

Place of Publication:

Princeton, N.J. : Princeton University Press, 1992.

Summary:

In recent years economists have begun to use the techniques of non-linear dynamics to show that some apparently erratic and turbulent economic phenomena reflect subtle underlying patterns. How do cyclic and chaotic dynamics arise in economic models of equilibrium? How can empirical methods be used to detect nonlinearities and cyclic and chaotic structures in economic models? In examining these questions, this book brings together the most significant work that has been done to date in economics-based chaos theory. Selected here particularly for the economist who is not a specialist in chaos theory, the essays, some previously unpublished and others not widely available, describe a new tool for understanding business cycles, stabilization policy, and forecasting. The contributors to the volume are William J. Baumol, Jess Benhabib, Michele Boldrin, William A. Brock, Richard H. Day, Raymond J. Deneckere, Allan Drazen, Jean-Michel Grandmont, Kenneth L. Judd, Bruno Jullien, Guy Laroque, Blake LeBaron, Bruce McNevin, Luigi Montrucchio, Salih Nefti, Kazuo Nishimura, James B. Ramsey, Pietro Reichlin, Philip Rothman, Chera L. Sayers, Jos A. Scheinkman, Wayne Shafer, William Whitesell, Edward N. Wolff, and Michael Woodford.

Contents:

1. Equilibrium Models Displaying Endogenous Fluctuations and Chaos: A Survey / Michele Boldrin and Michael Woodford

2. Periodic and Aperiodic Behaviour in Discrete One-Dimensional Dynamical Systems / Jean-Michel Grandmont

3. A Characterization of Erratic Dynamics in the Overlapping Generations Model / Jess Benhabib and Richard H. Day

4. On Endogenous Competitive Business Cycles / Jean-Michel Grandmont

5. Competitive Business Cycles in an Overlapping Generations Economy with Productive Investment / Bruno Jullien

6. Endogenous Fluctuations in a Two-Sector Overlapping Generations Economy / Pietro Reichlin

7. Recent Theories of the Business Cycle: The Role of Speculative Inventories / Guy Laroque

8. Endogenous Cycles with Uncertain Lifespans in Continuous Time / William Whitesell

9. The Hopf Bifurcation and the Existence and Stability of Closed Orbits in Multisector Models of Optimal Economic Growth / Jess Benhabib and Kazuo Nishimura

10. Sources of Complex Dynamics in Two-Sector Growth Models / Michele Boldrin and Raymond J. Deneckere

11. Imperfect Financial Intermediation and Complex Dynamics / Michael Woodford

12. Dynamical Systems that Solve Continuous-Time Concave Optimization Problems: Anything Goes / Luigi Montrucchio

13. Stochastic Equilibrium Oscillations / Jess Benhabib and Kazuo Nishimura

14. Cyclical and Chaotic Behavior in a Dynamic Equilibrium Model, with Implications for Fiscal Policy / Raymond J. Deneckere and Kenneth L. Judd

15. Endogenous Business Cycles with Self-Fulfilling Optimism: A Model with Entry / Allan Drazen

16. Keynesian Chaos / Richard H. Day and Wayne Shafer

17. Feedback Between R&D and Productivity Growth: A Chaos Model / William J. Baumol and Edward N. Wolff

18. Is the Business Cycle Characterized by Deterministic Chaos? / William A. Brock and Chera L. Sayers

19. The Statistical Properties of Dimension Calculations Using Small Data Sets: Some Economic Applications / James B. Ramsey, Chera L. Sayers and Philip Rothman

20. Some Evidence on the Non-Linearity of Economic Time Series: 1890-1981 / Bruce McNevin and Salih Neftci

21. Nonlinear Dynamics and Stock Returns / Jose A. Scheinkman and Blake LeBaron.

Notes:

Includes bibliographical references.

Description based on print version record.

ISBN:

9780691042497

0691042497

OCLC:

1273306873