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The New Mathematical Escalade: The recent Impact of the dynamical System Theory on the economic Analysis

Author

Listed:
  • José Carlos Ramírez

    (Director académico de la División de Negocios del ITESM-CCM y profesor afiliado del CIDE.)

  • David Juárez

    (Profesor investigador del departamento de Economía del ITESM-CCM y profesor externo del CIDE.)

Abstract

This paper aims at showing how the use of the dynamical systems theory (dst) has affected the thematic content of economic analysis, either by fostering new theoretical developments or by making translation from economics to mathematics more complete. To this end, we elaborate a classification on the 4 344 papers published in the four leading economic journals between 1990 and 2004, and present two dynamical interpretations of the Malthusian model. The main conclusions state that: 1) the application of dst to economics has made the meaning of dynamic equilibriums more complex in sixteen subdisciplines, mostly in those traditionally characterized by static analysis; 2) the accurate use of dst techniques allows finding equilibriums which have been disregarded by mainstream theories.

Suggested Citation

  • José Carlos Ramírez & David Juárez, 2009. "The New Mathematical Escalade: The recent Impact of the dynamical System Theory on the economic Analysis," Economía Mexicana NUEVA ÉPOCA, CIDE, División de Economía, vol. 0(1), pages 71-103, January-J.
    • Handle: RePEc:emc:ecomex:v:18:y:2009:i:1:p:71-103
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    More about this item

    Keywords

    dynamic system; complex dynamics; unidimensional maps; principle of population.;
    All these keywords.

    JEL classification:

    • C60 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - General
    • C62 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Existence and Stability Conditions of Equilibrium

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