23 citations · 52 across the 8 of their papers we have counts for
10 papers
A continuum of path-dependent equilibrium solutions induced by sticky expectations
Pavel Krejci, Eyram Kwame, Harbir Lamba +1
We analyze a simple macroeconomic model where rational inflation expectations is replaced by a boundedly rational, and genuinely sticky, response to changes in the actual inflation…
Global stability of a piecewise linear macroeconomic model with a continuum of equilibrium states and sticky expectation
Pavel Krejci, Harbir Lamba, Dmitrii Rachinskii
We consider piecewise linear discrete time macroeconomic models, which possess a continuum of equilibrium states. These systems are obtained by replacing rational inflation expecta…
Dynamics of Discrete Time Systems with a Hysteresis Stop Operator
Maxim Arnold, Nikita Begun, Pavel Gurevich +3
We consider a piecewise linear two-dimensional dynamical system that couples a linear equation with the so-called stop operator. Global dynamics and bifurcations of this system are…
Analytical solution for a class of network dynamics with mechanical and financial applications
Pavel Krejčí, Harbir Lamba, Sergey Melnik +1
We show that for a certain class of dynamics at the nodes the response of a network of any topology to arbitrary inputs is defined in a simple way by its response to a monotone inp…
The Transition from Brownian Motion to Boom-and-Bust Dynamics in Financial and Economic Systems
Harbir Lamba
Quasi-equilibrium models for aggregate variables are widely-used throughout finance and economics. The validity of such models depends crucially upon assuming that the systems' par…
How sensitive are equilibrium pricing models to real-world distortions?
Harbir Lamba
In both finance and economics, quantitative models are usually studied as isolated mathematical objects --- most often defined by very strong simplifying assumptions concerning rat…