Wang, Juanxi: Modelling and estimation of dynamic instability in complex economic systems. 2016
Inhalt
- Introduction and Outline
- Complex Economic Systems
- Bifurcations in Complex Economic System
- Expectations in Complex Economic Systems
- Thesis Outline
- Critical Slowing Down as Early Warning Signal for Financial Crises?
- Can A Stochastic Cusp Catastrophe Model Explain Housing Market Crashes?
- Introduction
- Catastrophe Theory
- Estimation Methods
- Estimation Variables
- Results and Discussions
- Concluding Remarks
- Appendix Fundamental Price and Price Deviations
- Appendix Cobb's Method v.s. Euler Discretization
- Incentive and Expectations in A Financial Market with Heterogenous Agents
- Introduction
- The Model
- Basic Setup
- Market Clearing Price
- The Objective of Fund Manager
- Fund Selection by Investors
- The Trading Strategy of Fund Manager
- Maximisation Analysis
- Simulation Results
- Conclusion
- Appendix Notation
- Appendix Market Clearing Price
- Summary
- References
- Samenvatting (Summary in Dutch)