Robustness and Local Linearisation in Economic Models
从理论和实证角度讨论非线性动力学的重要性，强调全局分析优于局部分析，并发展稳健性概念，据此认为许多现代宏观经济学在方法论上站不住脚，还涉及恶性通胀实证和金融市场混沌检测。
This paper discusses the importance of nonlinear dynamics from a theoretical and an empirical point of view. It stresses the need for global as opposed to local analysis and develops the important concept of robustness. Using this concept, the paper argues that much modern macroeconomics can be dismissed on methodological grounds alone. The paper also deals with the empirics of hyperinflation and with the detection of chaos in financial markets.