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CHAOTIC DYNAMICS IN ECONOMIC TIME‐SERIES
Author(s) -
Frank Murray,
Stengos Thanasis
Publication year - 1988
Publication title -
journal of economic surveys
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.657
H-Index - 92
eISSN - 1467-6419
pISSN - 0950-0804
DOI - 10.1111/j.1467-6419.1988.tb00039.x
Subject(s) - variety (cybernetics) , chaotic , context (archaeology) , economics , focus (optics) , econometrics , management science , macroeconomics , dynamics (music) , work (physics) , series (stratigraphy) , computer science , mathematical economics , sociology , engineering , artificial intelligence , management , mechanical engineering , pedagogy , physics , optics , biology , paleontology
. There has recently been considerable interest in chaotic dynamics in a variety of disciplines. This paper introduces and then surveys some of the associated literature and techniques. Applications to economic theory are discussed but the primary focus is on empirical applicability. In addition to surveying the literature we also provide an example of the use of these techniques in economics. We conclude by highlighting the importance of the techniques for empirical work as well as considering their context in econometric methodology.