There has been a steady development of dynamic analysis in economics in recent decades, both in theoretical work and in empirical implementations. Although the theoretical equations were frequently nonlinear, the empirical methods often employed the tools of linear stochastic analysis; moreover, the economic theory underlying dynamical systems very often tended to emphasize amplitude-reducing behaviour, that is, negative feedbacks. In this book we have taken the perspective of positive feedback economies and have developed models where the observed distribution of economic activity might be determined by history.
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- Palgrave Macmillan UK
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