SFB 303 Discussion Paper No. A - 294

Author: Brock, William A., and W. Davis Dechert
Title: Nonlinear Dynamical Systems: Instability and Chaos in Economics
Abstract: The purpose of this paper is: (i) set out enough of the mathematics of dynamical systems from the perspective of chaos theory so that the endogenous emergence of chaotic dynamics and other highly complex dynamics may be understood; (ii) explain measures of instability and complexity; (iii) explain how one tests for the presence of chaos and other complex nonlinear dynamics in time series data; and (iv) explain how these concepts have been applied in economics.
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Creation-Date: May 1990
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