Chaos and Nonlinear Forecastability in Economics and Finance

Blake Lebaron ()

Finance from University Library of Munich, Germany

Abstract: Both academic and applied researchers studying financial markets and other economic series have become interested in the topic of chaotic dynamics. The possibility of chaos in financial markets opens important questions for both economic theorists as well as financial market participants. This paper will clarify the empirical evidence for chaos in financial markets and macroeconomic series. It will also compare these two concepts from a financial market perspective contrasting the objectives of the practitioner with those of economic researchers. Finally, the paper will speculate on the impact of chaos and nonlinear modeling on future economic research.

JEL-codes: G (search for similar items in EconPapers)
Date: 1994-11-14
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Citations: View citations in EconPapers (30)

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Persistent link: https://EconPapers.repec.org/RePEc:wpa:wuwpfi:9411001

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