Dynamic economic models in discrete time: theory and empirical applications


Routledge | Published : 2003


Economic behaviour is inherently dynamic. While things change continuously over time, much of economic analysis is based on discrete time, such as a month, a quarter, or a year, reflecting the periodic nature of data collecting and decisionmaking. This book introduces and develops the techniques of discrete time modelling starting with first-order difference equation models and building up to systems of difference equations, covering the following topics along the way: • nonlinear difference equation models • random walks and chaotic processes • optimization in discrete time models This easy-to-follow book will primarily be of interest to upper-level students carrying out economic modelling..

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