ISBN: 9780631220367

The theme of the book is economic dynamics. It is now widely known that nonlinear dynamic modeling raises some vital and fascinating issues for economists. These include multiple equilibr… More...

The theme of the book is economic dynamics. It is now widely known that nonlinear dynamic modeling raises some vital and fascinating issues for economists. These include multiple equilibria, statistical inference, stability, robustness, chaos and undecidability. Many economists still find the nonlinear dynamic economy such a weird and distressing place that they seek to suppress its interesting features by appeal to techniques such as linearisation. The editors hope that this volume will convince the reader that the use of nonlinear modeling techniques can significantly enhance our understanding of a wide range of important economic behavior. The contributions to this issue discuss recent work on economic dynamics from the theoretical and empirical points of view. They have all been selected to be accessible to the technically competent non-specialist. This is the second book in the series" Surveys of Recent Research in Economics." The aim of the series is to publish surveys of recent contributions and developments across the broad spectrum of economics - including econometrics, economic history, and business economics. The series aims to help economists keep abreast of the literature in areas related to, but not directly focused on, their own research areas. Individual volumes will focus upon one particular aspect of economics and will be accessible to non-specialists, professional economists and advanced level students. Individual volumes will be edited by teams of guest editors and will include contributions from international scholars in the area. Media > Book, [PU: Basil Blackwell]<