Chaos and Fractal Impact on Economics
Complexity is one of the most important characteristic properties of the economic behaviour. The new field of knowledge called Chaotic Dynamic Economics born precisely with the objective of understanding, structuring and explaining in an endogenous way such complexity. In this paper, and after scann...
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| Tipo de recurso: | informe técnico |
| Fecha de publicación: | 2015 |
| País: | España |
| Institución: | Universidad Complutense de Madrid (UCM) |
| Repositorio: | Docta Complutense |
| Idioma: | inglés |
| OAI Identifier: | oai:docta.ucm.es:20.500.14352/27489 |
| Acceso en línea: | https://hdl.handle.net/20.500.14352/27489 |
| Access Level: | acceso abierto |
| Palabra clave: | C02 C22 Complexity Chaos Fractal Non-linearity Correlation dimension Fractal dimension Lyapunov exponents Time series Capital markets Predictions. Complejidad Caos fractales No-linealidad Dimensión de correlación Dimensión fractal Exponente de Lyapunov Series temporales Mercado de capitales Predicción Mercados bursátiles y financieros Teorías económicas 5307 Teoría Económica |
| Sumario: | Complexity is one of the most important characteristic properties of the economic behaviour. The new field of knowledge called Chaotic Dynamic Economics born precisely with the objective of understanding, structuring and explaining in an endogenous way such complexity. In this paper, and after scanning the principal concepts and techniques about the mathematics of chaos and the fractal geometry, we analyze the possibilities of application of these valuable tools to the different areas of Economics. After a set of general considerations, within a wide landscape, we tackle the study of two main economic areas: the existence of chaos in time series, and the eventual chaotic behaviour in the Capital Markets during the recent period of crisis, considering the IBEX 35 daily data in the years 2006-2013, obtaining very interesting results. |
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