Economic nonequilibrium, instability and chaos

In a former article, we have argued in favor of a broader use of nonlinear dynamical analysis in economic theory as a way of studying the processes of change in the economy. We have stressed that this approach allows us to think change in a different way to the one prevalent in economic theory, whe...

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Autor principal: Beker, Víctor A.
Formato: Objeto de conferencia
Lenguaje:Inglés
Publicado: 1994
Materias:
Ciencias Económicas
nonlinear dynamics
Acceso en línea:http://sedici.unlp.edu.ar/handle/10915/174549
Aporte de:
SEDICI (UNLP) de Universidad Nacional de La Plata
id I19-R120-10915-174549
record_format dspace
spelling I19-R120-10915-1745492024-12-06T20:02:53Z http://sedici.unlp.edu.ar/handle/10915/174549 Economic nonequilibrium, instability and chaos Beker, Víctor A. 1994 1994 2024-12-06T15:06:34Z en Ciencias Económicas nonlinear dynamics In a former article, we have argued in favor of a broader use of nonlinear dynamical analysis in economic theory as a way of studying the processes of change in the economy. We have stressed that this approach allows us to think change in a different way to the one prevalent in economic theory, where evolution is seen just as a smooth, gentle, continuous process. On the contrary, nonlinearity paves the way to the analysis of economic discontinuity, i.e.. abrupt, sharp changes in economic variables, like the October 1987 stock market crash, the currency crises that shattered the Bretton Woods system in the early 70s or hyperinflation processes We posit that this sort of phenomena are better analyzed within the framework provided by nonlinear dynamics. In this paper, we illustrate by means of an oversimplislic example some implications of the adoption of that approach and we further analyze its consequences from a methodological point of view. Facultad de Ciencias Económicas Objeto de conferencia Objeto de conferencia http://creativecommons.org/licenses/by-nc-sa/4.0/ Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International (CC BY-NC-SA 4.0) application/pdf
institution Universidad Nacional de La Plata
institution_str I-19
repository_str R-120
collection SEDICI (UNLP)
language Inglés
topic Ciencias Económicas
nonlinear dynamics
spellingShingle Ciencias Económicas
nonlinear dynamics
Beker, Víctor A.
Economic nonequilibrium, instability and chaos
topic_facet Ciencias Económicas
nonlinear dynamics
description In a former article, we have argued in favor of a broader use of nonlinear dynamical analysis in economic theory as a way of studying the processes of change in the economy. We have stressed that this approach allows us to think change in a different way to the one prevalent in economic theory, where evolution is seen just as a smooth, gentle, continuous process. On the contrary, nonlinearity paves the way to the analysis of economic discontinuity, i.e.. abrupt, sharp changes in economic variables, like the October 1987 stock market crash, the currency crises that shattered the Bretton Woods system in the early 70s or hyperinflation processes We posit that this sort of phenomena are better analyzed within the framework provided by nonlinear dynamics. In this paper, we illustrate by means of an oversimplislic example some implications of the adoption of that approach and we further analyze its consequences from a methodological point of view.
format Objeto de conferencia
Objeto de conferencia
author Beker, Víctor A.
author_facet Beker, Víctor A.
author_sort Beker, Víctor A.
title Economic nonequilibrium, instability and chaos
title_short Economic nonequilibrium, instability and chaos
title_full Economic nonequilibrium, instability and chaos
title_fullStr Economic nonequilibrium, instability and chaos
title_full_unstemmed Economic nonequilibrium, instability and chaos
title_sort economic nonequilibrium, instability and chaos
publishDate 1994
url http://sedici.unlp.edu.ar/handle/10915/174549
work_keys_str_mv AT bekervictora economicnonequilibriuminstabilityandchaos
_version_ 1824075713808957440

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