Directory UMM :Data Elmu:jurnal:J-a:Journal Of Economic Dynamics And Control:Vol24.Issue5-7.Jul2000:
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six sections: Section I: Invited contributions; Section II: Heterogeneous agents; Section III: Local and global bifurcations in 2-D systems; Section IV: Macro dynamics; Section
This larger view nests conventional rational expectations general equilibrium theory in the sense that if the costs of acquiring & full knowledge of the true model expectations
In this paper we show how the global dynamics of an economic model can be analyzed by the study of some global bifurcations that change the shape of the chaotic attractors and
In Section 5.4 we have seen that when the symmetric equilibrium price vector of a ta ( tonnement process with both a re # ectional and a rotational symmetry loses stability
Although it is true that a correctly speci"ed neural network might be able to learn rational expectations even in more general models, the analysis of the reduced form considered
In a pure exchange overlapping generations model we obtain that to have a cycle and a chaotic dynamics under bounded rationality learning we need a coe $ cient of risk aversion for
portfolio holdings constitutes a su $ cient minimal state space and that there exists a continuous policy function f as well as a function g mapping last period ' s portfolio
Several implications for the empirical testing of the relationship between risk and return come from the dynamic nature of this study. In Section 4, we have shown that the intercept
