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An example of intermittency in nonlinear economic cycles

Author

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  • A. C. -L. Chian
  • E. L. Rempel
  • F. A. Borotto
  • C. Rogers

Abstract

Intermittent behaviour of economic dynamics is studied by a nonlinear model of business cycles. Numerical simulations show that after an economic system evolves from order to chaos, the system keeps its memory before the transition and its time series alternates episodically between periods of low-level (quiescent) and high-level (bursting) activities. This model of economic intermittency exhibits power-law spectrum similar to the nonlinear time series observed in financial markets.

Suggested Citation

  • A. C. -L. Chian & E. L. Rempel & F. A. Borotto & C. Rogers, 2006. "An example of intermittency in nonlinear economic cycles," Applied Economics Letters, Taylor & Francis Journals, vol. 13(4), pages 257-263.
    • Handle: RePEc:taf:apeclt:v:13:y:2006:i:4:p:257-263
    DOI: 10.1080/13504850500394335
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    Citations

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    Cited by:

    1. Li, Jiaorui & Feng, C.S., 2010. "First-passage failure of a business cycle model under time-delayed feedback control and wide-band random excitation," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 389(24), pages 5557-5562.
    2. Saiki, Y. & Chian, A.C.L. & Yoshida, H., 2011. "Economic intermittency in a two-country model of business cycles coupled by investment," Chaos, Solitons & Fractals, Elsevier, vol. 44(6), pages 418-428.
    3. A. C. -L. Chian & E. L. Rempel & C. Rogers, 2007. "Crisis-induced intermittency in non-linear economic cycles," Applied Economics Letters, Taylor & Francis Journals, vol. 14(3), pages 211-218.
    4. Cristescu, Constantin P. & Stan, Cristina & Scarlat, Eugen I. & Minea, Teofil & Cristescu, Cristina M., 2012. "Parameter motivated mutual correlation analysis: Application to the study of currency exchange rates based on intermittency parameter and Hurst exponent," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 391(8), pages 2623-2635.

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