Annals of Operations Research

, Volume 37, Issue 1, pp 1–15 | Cite as

Empirical chaotic dynamics in economics

  • William A. Barnett
  • Melvin J. Hinich
Article

Abstract

Barnett and Chen [4–6] have displayed evidence of chaos in certain monetary aggregates, but the tests have unknown statistical sampling properties. Using monthly growth rates in monetary aggregates, we conduct bispectral tests for nonlinearity. Our tests have known sampling properties, and we find deep nonlinearity in some monetary aggregate series.

Keywords

Growth Rate Statistical Sampling Chaotic Dynamic Sampling Property Monetary Aggregate 

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Copyright information

© J.C. Baltzer AG, Scientific Publishing Company 1992

Authors and Affiliations

  • William A. Barnett
    • 1
  • Melvin J. Hinich
    • 2
  1. 1.Department of EconomicsWashington University in St. LouisUSA
  2. 2.University of Texas at AustinAustinUSA

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