Catastrophe models and the expansion method: A review of issues and an application to the econometric modeling of economic growth

Many negative reactions to Catastrophe Theory have been triggered by overly simplistic applications unintended and unsuited for statistical-econometric estimation, inference, and testing. In this paper it is argued that stochastic catastrophe models constructed using the Expansion Method hold the mo...

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Bibliographic Details
Main Author:	Emilio Casetti
Format:	Article
Language:	English
Published:	Hindawi Limited 1997-01-01
Series:	Discrete Dynamics in Nature and Society
Subjects:	Catastrophe models Expansion method Economic growth.
Online Access:	http://dx.doi.org/10.1155/S1026022697000204

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spelling	doaj-6e4712464f9245ffae7d7f49d94f4a202020-11-25T00:54:26ZengHindawi LimitedDiscrete Dynamics in Nature and Society1026-02261607-887X1997-01-011318520210.1155/S1026022697000204Catastrophe models and the expansion method: A review of issues and an application to the econometric modeling of economic growthEmilio Casetti0Department of Economics, Odense University, Odense, DenmarkMany negative reactions to Catastrophe Theory have been triggered by overly simplistic applications unintended and unsuited for statistical-econometric estimation, inference, and testing. In this paper it is argued that stochastic catastrophe models constructed using the Expansion Method hold the most promise to widen the acceptance of Catastrophe Theory by analytically oriented scholars in the social sciences and elsewhere. The paper presents a typology of catastrophe models, and demonstrates the construction and estimation of an econometric expanded cusp catastrophe model of economic growth.http://dx.doi.org/10.1155/S1026022697000204Catastrophe modelsExpansion methodEconomic growth.
collection	DOAJ
language	English
format	Article
sources	DOAJ
author	Emilio Casetti
spellingShingle	Emilio Casetti Catastrophe models and the expansion method: A review of issues and an application to the econometric modeling of economic growth Discrete Dynamics in Nature and Society Catastrophe models Expansion method Economic growth.
author_facet	Emilio Casetti
author_sort	Emilio Casetti
title	Catastrophe models and the expansion method: A review of issues and an application to the econometric modeling of economic growth
title_short	Catastrophe models and the expansion method: A review of issues and an application to the econometric modeling of economic growth
title_full	Catastrophe models and the expansion method: A review of issues and an application to the econometric modeling of economic growth
title_fullStr	Catastrophe models and the expansion method: A review of issues and an application to the econometric modeling of economic growth
title_full_unstemmed	Catastrophe models and the expansion method: A review of issues and an application to the econometric modeling of economic growth
title_sort	catastrophe models and the expansion method: a review of issues and an application to the econometric modeling of economic growth
publisher	Hindawi Limited
series	Discrete Dynamics in Nature and Society
issn	1026-0226 1607-887X
publishDate	1997-01-01
description	Many negative reactions to Catastrophe Theory have been triggered by overly simplistic applications unintended and unsuited for statistical-econometric estimation, inference, and testing. In this paper it is argued that stochastic catastrophe models constructed using the Expansion Method hold the most promise to widen the acceptance of Catastrophe Theory by analytically oriented scholars in the social sciences and elsewhere. The paper presents a typology of catastrophe models, and demonstrates the construction and estimation of an econometric expanded cusp catastrophe model of economic growth.
topic	Catastrophe models Expansion method Economic growth.
url	http://dx.doi.org/10.1155/S1026022697000204
work_keys_str_mv	AT emiliocasetti catastrophemodelsandtheexpansionmethodareviewofissuesandanapplicationtotheeconometricmodelingofeconomicgrowth
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Catastrophe models and the expansion method: A review of issues and an application to the econometric modeling of economic growth

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