Related papers: Cycles in Nonlinear Macroeconomics
This paper develops a dynamic monetary model to study the (in)stability of the fractional reserve banking system. The model shows that the fractional reserve banking system can endanger stability in that equilibrium is more prone to exhibit…
We describe the innovations in finances, introduced over the recent decades, and analyze most of the business and regulatory challenges, faced by the financial industry, because of the present disruptive changes in the global capital…
These lecture notes can be read in two ways. The first two Sections contain a review of the phenomenology of several physical systems with slow nonequilibrium dynamics. In the Conclusions we summarize the scenario derived from the solution…
In this expository and resources chapter we review selected aspects of the mathematics of dynamical systems, stability, and chaos, within a historical framework that draws together two threads of its early development: celestial mechanics…
This work is devoted to modelling and identification of the dynamics of the inter-sectoral balance of a macroeconomic system. An approach to the problem of specification and identification of a weakly formalized dynamical system is…
This paper deals with transient stability in interconnected micro-grids. The main contribution involves i) robust classification of transient dynamics for different intervals of the micro-grid parameters (synchronization, inertia, and…
Investigating the possibility of applying techniques from linear systems theory to the setting of nonlinear systems has been the focus of many papers. The pseudo linear form representation of nonlinear dynamical systems has led to the…
We study a dynamical model of interconnected firms which allows for certain market imperfections and frictions, restricted here to be myopic price forecasts and slow adjustment of production. Whereas the standard rational equilibrium is…
This paper tackles the problem of nonlinear systems, with sublinear growth but unbounded control, under perturbation of some time-varying state constraints. It is shown that, given a trajectory to be approximated, one can find a neighboring…
The paper argues that attracting more economists and adopting a more-precise definition of dynamic complexity might help econophysics acquire more attention in the economics community and bring new lymph to economic research. It may be…
The fluctuations in nonequilibrium systems are under intense theoretical and experimental investigation. Topical ``fluctuation relations'' describe symmetries of the statistical properties of certain observables, in a variety of models and…
Persistent economic competition is often justified as a mechanism of innovation, efficiency, and welfare maximization. Yet empirical evidence across disciplines reveals that competition systematically generates fragility, inequality, and…
We investigate cyclic dominance models and their extensions to both network systems and reaction-diffusion frameworks. Using linear stability analysis, we establish the relationship between the stability of synchronized states in network…
With the use of the general variational principle of self-organization of systems with varying constraints, namely the principle of dynamical harmonization of systems presented in the first work of the cycle, we advance an approach to the…
Limit cycles are self-sustained, closed trajectories in phase space representing (un)-stable, periodic behavior in nonlinear dynamical systems. They underpin diverse natural phenomena, from neuronal firing patterns to engineering…
This work is devoted to the study of the relationships between graph theory and the qualitative analysis of ordinary differential equations, with a special focus on two-dimensional systems. In particular, we reinterpret classical results…
Following the financial crisis of 2007-2008, a deep analogy between the origins of instability in financial systems and complex ecosystems has been pointed out: in both cases, topological features of network structures influence how easily…
These lectures concern basic aspects of the theory of semigroups of endomorphisms of type $I$ factors that relate to causal dynamics, dilation theory, and the problem of classifying $E_0$-semigroups up to cocycle conjugacy. We give only a…
There are many natural, physical, and biological systems that exhibit multiple time scales. For example, the dynamics of a population of ticks can be described in continuous time during their individual life cycle yet discrete time is used…
In the paper we define and characterize the asynchronous systems from the point of view of their autonomy, determinism, order, non-anticipation, time invariance, symmetry, stability and other important properties. The study is inspired by…