Search Results for competition-instability-and-nonlinear-cycles

Business & Economics

Competition Instability and Nonlinear Cycles

The topic of the conference was "Competition, Instability, and Nonlinear Cycles." A number of mathematical economists from Italy, West Germany, France, Japan, and the U.S. were invited as participants in this meeting.

Author: Willi Semmler

Publisher: Springer Science & Business Media

ISBN: 9783642516993

Category: Business & Economics

Page: 340

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I. The Topic and the structure of the Proceedings The papers in this book are the proceedings of a conference held at the Economics Department of the Graduate Faculty of the New School for Social Research in March 1985 in New York for which financial support was provided by .the West German Consulate. The topic of the conference was "Competition, Instability, and Nonlinear Cycles." A number of mathematical economists from Italy, West Germany, France, Japan, and the u.s. were invited as participants in this meeting. The conference was preceded by two other conferences in which several of the invited scholars had taken part. One, on "la gravitation des prix," took place in Nanterre, France,in March 1984. The other was held at the New School for Social Research in April 1984 on "Price of Production in Joint Production systems." Both conference were concerned with classical prices of production systems and their revival in the form developed by Sraffa and Pasinetti (1977). In these conferences, considerable interest arose in more properly modeling the dynamics of prices of production systems in a multi sectoral framework by utilizing modern mathematical tools of dynamical systems. Such a discussion on the dynamics of the classical process of competition and the stability of classical production prices was originally initiated by several papers by Nikaido (1977, 1983, 1984) and further pursued by several scholars (see Steedman, 1983; Boggio, 1980; Kuroki, 1983; Dumenil/Levy, 1983; Krause, 1983, 1984; Hosoda, 1985; Filippini, 1985).
2012-12-06 By Willi Semmler
Business & Economics

Financial Dynamics and Business Cycles

Stability and Instability in a Dynamic Model of Capitalist Production ” ( abridged version ) . ... Competition , Instability , and Nonlinear Cycles Lecture , Notes in Economics and Mathematical Systems . No. 275.

Author: Willi Semmler

Publisher: Routledge

ISBN: 9781315288802

Category: Business & Economics

Page: 274

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As the 55th anniversary of the bank holiday of March 1933 approached, financial instability was a main topic in the financial press. Daily reports appeared of international debt crises, of the covert bankruptcy of deposit insurance, and of the near bankruptcy of one great financial institution after another. The great stock market crash of October 19 and 20, 1987, demonstrated that extreme instability can happen. It is generally asserted that the consequences of October 19th and 20th would have been disastrous if the Federal Reserve and Treasury interventions had not set things right. In 1933, financial markets in the United States and throughout the capitalist world collapsed. In the light of historical experience, the past 55 years are the anomaly. The papers collected in this volume come from various backgrounds and research paradigms. A common theme runs through these papers that makes the collection both interesting and important: The authors take seriously the obvious evidence that capitalist economies progress through time by lurching. Whether a particular study starts from household utility maximization or from the processes by which productive structures are reproduced and expanded, the authors are united in accepting the evidence that financial instability is a significant characteristic of modern capitalism.
2019-08-08 By Willi Semmler
Business & Economics

Nonlinear Dynamics in Economics and Social Sciences

University of Bielefeld. FoLEY, D.K. (1986): “Stabilization Policy in a Nonlinear Business Cycle Model”. In: SEMMLER, W. (ed.): Competition, Instability, and Nonlinear Cycles, pp. 200-211. Berlin-Heidelberg-New York: SpringerVerlag.

Author: Franco Gori

Publisher: Springer Science & Business Media

ISBN: 9783642580314

Category: Business & Economics

Page: 367

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This volume constitutes the Proceedings of the "Nonlinear Dynamics in Economics and Social Sciences" Meeting held at the Certosa di Pontignano, Siena, on May 27-30, 1991. The Meeting was organized by the National Group "Modelli Nonlineari in Economia e Dinamiche Complesse" of the Italian Ministery of University and SCientific Research, M.U.RS.T. The aim of the Conference, which followed a previous analogous initiative taking place in the very same Certosa, on January 1988*, was the one of offering a come together opportunity to economists interested in a new mathematical approach to the modelling of economical processes, through the use of more advanced analytical techniques, and mathematicians acting in the field of global dynamical systems theory and applications. A basiC underlying idea drove the organizers: the necessity of fOCUSing on the use that recent methods and results, as those commonly referred to the overpopularized label of "Chaotic Dynamics", did find in the social sciences domain; and thus to check their actual relevance in the research program of modelling economic phenomena, in order to individuate and stress promising perspectives, as well as to curb excessive hopes and criticize not infrequent cases where research reduces to mechanical, ad hoc, applications of "a la mode" techniques. In a word we felt the need of looking about the state of the arts in non-linear systems theory applications to economics and social processes: hence the title of the workshop and the volume.
2012-12-06 By Franco Gori
Business & Economics

Profits Deficits and Instability

Foley, D., 'Stabilization Policy in a Nonlinear Business Cycle Model”, in W. Semmler (ed.), Competition, Instability, and Nonlinear Cycles, Lecture Notes in Economics and Mathematical Systems (New York/Heidelberg: SpringerVerlag, ...

Author: Dimitri B. Papadimitriou

Publisher: Springer

ISBN: 9781349117864

Category: Business & Economics

Page: 380

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The papers drawn together in this book seek to make a contribution in the study of an important area in economics - profits. There are insights into the questions of the inter-relationships between profits, corporate investment and financing activity and the causes of government deficits.
1992-06-18 By Dimitri B. Papadimitriou
Business & Economics

Cycles and Chaos in Economic Equilibrium

in G. R. Feiwel , ed . , Economics of Imperfect Competition : Joan Robinson and Beyond . ... “ On the Inventory Cycle and the Instability of the Competitive Mechanism . ... Competition , Instability and Nonlinear Cycles .

Author: Jess Benhabib

Publisher: Princeton University Press

ISBN: 9780691225210

Category: Business & Economics

Page: 487

View: 232

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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.
2021-02-09 By Jess Benhabib
Business & Economics

Nonlinear Economic Dynamics and Financial Modelling

Stabilization policy in a nonlinear business-cycle model. In W. Semmler (Ed.), Competition, Instability, and Nonlinear Cycles., Lecture Notes in Economics and Mathematical Systems New York: Springer. Foley, D. (1987).

Author: Roberto Dieci

Publisher: Springer

ISBN: 9783319074702

Category: Business & Economics

Page: 389

View: 760

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This book reflects the state of the art on nonlinear economic dynamics, financial market modelling and quantitative finance. It contains eighteen papers with topics ranging from disequilibrium macroeconomics, monetary dynamics, monopoly, financial market and limit order market models with boundedly rational heterogeneous agents to estimation, time series modelling and empirical analysis and from risk management of interest-rate products, futures price volatility and American option pricing with stochastic volatility to evaluation of risk and derivatives of electricity market. The book illustrates some of the most recent research tools in these areas and will be of interest to economists working in economic dynamics and financial market modelling, to mathematicians who are interested in applying complexity theory to economics and finance and to market practitioners and researchers in quantitative finance interested in limit order, futures and electricity market modelling, derivative pricing and risk management.
2014-07-26 By Roberto Dieci
Business & Economics

Nonlinear Dynamical Economics and Chaotic Motion

Feigenbaum, M. (1978): Quantitative Universality for a Class of Non-Linear Transformations. ... Flaschel, P. (1984): Some Stability Properties of Goodwin's Growth Cycle. ... Competition, Instability, and Nonlinear Cycles, pp. 200211.

Author: Hans-Walter Lorenz

Publisher: Springer Science & Business Media

ISBN: 9783662222331

Category: Business & Economics

Page: 248

View: 747

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The plan to publish the present book arose while I was preparing a joint work with Gunter Gabisch (Gabisch, G. /Lorenz, H. -W. : Business Cycle Theory. Berlin-Heidel berg-New York: Springer). It turned out that a lot of interesting material could only be sketched in a business cycle text, either because the relevance for business cycle theory was not evident or because the material required an interest in dynamical economics which laid beyond the scope of a survey text for advanced undergraduates. While much of the material enclosed in this book can be found in condensed and sometimes more or less identical form in that business cycle text, the present monograph attempts to present nonlinear dynamical economics in a broader context with economic examples from other fields than business cycle theory. It is a pleasure for me to acknowledge the critical comments, extremely detailed remarks, or suggestions by many friends and colleagues. The responses to earlier versions of the manuscript by W. A. Barnett, M. Boldrin, W. A. Brock, C. Chiarella, C. Dale, G. Feichtinger, P. Flaschel, D. K. Foley, R. M. Goodwin, D. Kelsey, M. Lines, A. Medio, L. Montrucchio, P. Read, C. Sayers, A. Schmutzler, H. Schnabl, G. Silverberg, H. -\'\!. Sinn, J. Sterman, and R. Tscherning not only encouraged me to publish the book in its present form but helped to remove numerous errors (not only typographic ones) and conceptnal misunderstandings and flaws. Particular thanks go to G.
2013-06-29 By Hans-Walter Lorenz
Business & Economics

Economic Complexity Chaos Sunspots Bubbles and Nonlinearity

Foley , D. ( 1986 ) , “ Stabilization policy in a nonlinear business cycle model , ” in Competition , Instability , and Nonlinear Cycles , ed . by W. Semmler , Berlin : Springer - Verlag , 200-11 . ( 1987a ) , “ Liquidity - profit rate ...

Author: William Arnold Barnett

Publisher: Cambridge University Press

ISBN: 052135563X

Category: Business & Economics

Page: 409

View: 975

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The contents of this volume comprise the proceedings of the International Symposia in Economic Theory and Econometrics conference held in 1987 at the IC^T2 (Innovation, Creativity, and Capital) Institute at the University of Texas at Austin. The essays present fundamental new research on the analysis of complicated outcomes in relatively simple macroeconomic models. The book covers econometric modelling and time series analysis techniques in five parts. Part I focuses on sunspot equilibria, the study of uncertainty generated by nonstochastic economic models. Part II examines the more traditional examples of deterministic chaos: bubbles, instability, and hyperinflation. Part III contains the most current literature dealing with empirical tests for chaos and strange attractors. Part IV deals with chaos and informational complexity. Part V, Nonlinear Econometric Modelling, includes tests for and applications of nonlinearity.
1989-07-28 By William Arnold Barnett
Business & Economics

Dynamic Macroeconomics

“ Stabilization Policy in a Nonlinear Business Cycle Model . " In W.Semmler , ed . , Competition , Instability , and Nonlinear Cycles , 200-211 . New York : Springer . . 1987. " Liquidity - Profit Rate Cycles in a Capitalist Economy .

Author: Professor Emeritus Peter Flaschel

Publisher: MIT Press

ISBN: 0262061910

Category: Business & Economics

Page: 455

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An attempt to revitalize the traditions of nonmarket clearing approaches to macroeconomics. Using tools from dynamic analysis, the text introduces a consistent, integrated framework for disequilibrium macroeconomic dynamics and explore its relationship to the competing equilibrium dynamics.
1997 By Professor Emeritus Peter Flaschel
Political Science

The Labor Market and Business Cycle Theories

In W. Semmler (ed) : "Competition, Instability and Nonlinear Cycles". Berlin : Springer-Verlag . GRANDMONT, J. M. / MALGRANGE P (1986): Non Linear Economic Dynamics: Introduction, Journal of Economic Theory, 40, pp. 3-12.

Author: Piero Ferri

Publisher: Springer Science & Business Media

ISBN: 9783662008317

Category: Political Science

Page: 186

View: 246

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Interest in business cycles has had its 'ups and downs'. After a period of almost steady state growth and of economic tranquility, when the business cycle seemed to be obsolete, the turbulence of the 70s and 80s has contributedto a renewed interest in the topic. Important analytical and methodological innovations have also favored the present abundance of contributions. Four innovations are of particular importance: i. microfoundations ii. nonlinearities iii. stochastic variables iv. real aspects. Both Classical macroeconomics and new-Keynesian approaches seem to share these characteristics, which apply both to endogenous and exogenous explanations of the cycle. The distance separating the newer literature from its forebears seems vast. Previously, cycle theory was characterized by a macro approach and utilized nonlinearities either through piecewise 'linear models or with the aid of Classical theorems in the field of dynamic systems. To consider and to compare the old and the new literature on business cycles is one of the goals of this book. To narrow the distance separating them is another goal of this research. We do not try to bridge it, but rather to revisit the former tradition with new tools. Finally, a particular emphasis is put on the 'ceilings and floors' type of literature. One of us has written a D. Phil. thesis with Sir John Hicks, and both have worked with H. P. Minsky. Hicks, along with Goodwin, introdu. ced the concept of ceilings and floors into business cycle analysis, and Minsky made important contributions to the area.
2012-12-06 By Piero Ferri

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