Chaos in the Core-Periphery Model
نویسندگان
چکیده
This paper shows that the standard continuous-time core-periphery model – the foundation of the New Economic Geography – is not robust: simply reformulating it in discrete time has profound implications. The continuous-time model can only exhibit stationary long-term behavior, and high transport costs are perceived as stabilizing. In contrast, the discrete-time model can exhibit cycles of any periodicity or chaotic behavior, and high transport costs are de-stabilizing. Furthermore, the sensitive dependence of long-term behavior on initial conditions and on parameters is so acute and so pervasive that it seriously calls into question reliance on propositions derived from the continuous-time model.
منابع مشابه
A Unified Method of Detecting Core-Periphery Structure and Community Structure in Networks
The core-periphery structure and the community structure are two typical meso-scale structures in complex networks. Although community detection has been extensively investigated from different perspectives, the definition and the detection of the core-periphery structure have not received much attention. Furthermore, the detection problems of the core-periphery and community structure were sep...
متن کاملSelf-Organization of LöSCH's Hexagons in Economic agglomeration for Core-periphery Models
Hexagonal population distributions of several sizes are shown to be selforganized from a uniformly inhabited state, which is modeled by a system of places (cities) on a hexagonal lattice. Microeconomic interactions among the places are expressed by a core–periphery model in new economic geography. Lösch’s ten smallest hexagonal distributions in central place theory are guaranteed to be existent...
متن کاملAn Investigation of World-System Theory and Globalization in the Rama Novels by Arthur C. Clarke and Gentry Lee
Noam Chomsky argues that only a meager percentage of the world, consisting of mainly large corporations and developed nations, prosper from globalization. As stated in Immanuel Wallerstein’s World-System Theory, the modern system of the world, which is constructed according to the economic status of nations, can be divided into three levels: the core, the semi-periphery, and the periphery. Whil...
متن کاملA Study of Pedestrian Movement on Crosswalks Based on Chaos Theory
Walking, as an important transportation mode, plays a large part in urban transportation systems. This mode is of great importance for planners and decision-makers because of its impact on environmental and health aspects of communities. However, this mode is so complex in nature that makes it difficult to study or model. On the other hand, chaos theory studies complex dynamical nonlinear syste...
متن کاملChaotic Test and Non-Linearity of Abnormal Stock Returns: Selecting an Optimal Chaos Model in Explaining Abnormal Stock Returns around the Release Date of Annual Financial Statements
For many investors, it is important to predict the future trend of abnormal stock returns. Thus, in this research, the abnormal stock returns of the listed companies in Tehran Stock Exchange were tested since 2008- 2017 using three hypotheses. The first and second hypotheses examined the non-linearity and non-randomness of the abnormal stock returns ′ trend around the release date of annual fin...
متن کامل