Endogenous Crisis Waves: A Stochastic Model with Synchronized Collective Behavior

@article{Gualdi2015EndogenousCW,
  title={Endogenous Crisis Waves: A Stochastic Model with Synchronized Collective Behavior},
  author={Stanislao Gualdi and Jean-Philippe Bouchaud and G. Cencetti and M. Tarzia and Francesco Zamponi},
  journal={Physical Review Letters},
  year={2015},
  volume={114},
  pages={088701}
}
  • Stanislao Gualdi, Jean-Philippe Bouchaud, +2 authors Francesco Zamponi
  • Published 2015
  • Physics, Economics
  • Physical Review Letters
  • We propose a simple framework to understand commonly observed crisis waves in macroeconomic Agent Based models, that is also relevant to a variety of other physical or biological situations where synchronization occurs. We compute exactly the phase diagram of the model and the location of the synchronization transition in parameter space. Many modifications and extensions can be studied, confirming that the synchronization transition is extremely robust against various sources of noise or… CONTINUE READING

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    Synchronization of Endogenous Business Cycles
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