Econometric modelling in the presence of evolutionary change

Article Abstract:

There is concern about non-stationarity in data on time-series in econometric models. The logistic diffusion equation can help in dealing with structural change. Exogenous effects on boundary limits and diffusion rates can be included in this model. Econometric methods can be used to falsify the augmented logistic diffusion hypothesis. Australian Building Society Deposits, and the way that they have grown and declined, can be used to illustrate the uses of this approach. This model can help in making economic forecasts and developing regulatory policy during a time of structural change, when conventional econometric methods may not be helpful.

Research, Australia, Econometrics, Economic forecasting, Savings and loan associations

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Adaptive economic growth

Article Abstract:

An evolutionary model of adaptive economic growth based on activities related to the growth of knowledge is advanced and assessed. The association between macroeconomic productivity growth and the variety of technical progress functions is examined.

United Kingdom, Macroeconomics, Econometric models

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From simplistic to complex systems in economics

Article Abstract:

The origination of complex systems theory and its application in economics is analyzed, and equated with economic theorizing to standard approaches based on constrained optimization is presented.

Economics, Research and Development in the Social Sciences and Humanities, England, Chaos theory, Chaotic systems, Chaotic behaviour in systems, Economic theory

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