haku: @freeterm Robustness / yhteensä: 2
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| Tekijä: | George, D. A. R. Oxley, L. |
| Otsikko: | Robustness and local linearisation in economic models |
| Lehti: | Journal of Economic Surveys
1999 : DEC, VOL. 13:5, p. 529-550 |
| Asiasana: | Models Chaos Inflation Financial markets |
| Vapaa asiasana: | Robustness |
| Kieli: | eng |
| Tiivistelmä: | This paper discusses the importance of nonlinear dynamics from theoretical and empirical point of view. It stresses the need for global as opposed to local analysis. It also develops the important concept of robustness. Using this concept, the paper argues that much modern macroeconomics can be dismissed on methodological grounds alone. In addition, the paper deals with the empirics of hyperinflation and with the detection of chaos in financial markets. |
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