Institute of Information Theory and Automation

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Nonlinear Dynamic and Stochastics of Economics Systems: Equilibria, Stability, and Bifurcations

Agency: 
GACR
Identification Code: 
GA402/06/0990
Start: 
2006-01-01
End: 
2008-01-01
Project Focus: 
teoretický
Project Type (EU): 
other
Abstract: 
Economic systems exhibit many types of bifurcations such as pitchfork bifurcations in the tatonement process, transcritical bifurcations in the Bergstrom-Newman-Wymer continuous-time macroeconometric model, Hopf bifurcations in the growth models. Bifurcation exist both in discrete-time and continuous-time models.Analysing the effects of uncertainty in economic systems might have very practical impact on macroeconomic policymaking. A stochastic setting in macroeconomic policymaking makes possible to use symmetric but even asymmetric information and to demonstrate the use of methods for the rational expectations equilibrium.
Publications ÚTIA: 
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2012-03-21 12:05