Analysis of Economic Fluctuations: A Contribution from Chaos Theory

Marisa Faggini ()
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Marisa Faggini: University of Salerno

A chapter in Mathematical and Statistical Methods in Insurance and Finance, 2008, pp 107-112 from Springer

Abstract: Abstract The nature of business cycles is a central and conflicting question in macroeconomics. We would like to stress, however, the importance of chaos, in the context of business cycle theories. In fact, those who believe in i.i.d. disturbances simply state that fluctuations are determined by exogenous factors. Chaos supporters, on the other hand, disagree with a linear world and believe that the source of fluctuations is endogenous to the economic system. The aim of paper is to highlight the power of chaos theory to analyze business cycles.

Keywords: P10; H3; E6 (search for similar items in EconPapers)
Date: 2008
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DOI: 10.1007/978-88-470-0704-8_14

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