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Recurrence Plots and Cross Recurrence Plots

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Chaos, Solitons & Fractals, 38(4), 1013–1024p. (2008) DOI:10.1016/j.chaos.2007.01.065

Testing for deterministic monetary chaos: Metric and topological diagnostics

J. T. Barkoulas

The evidence of deterministic chaos in monetary aggregates tends to be contradictory in the literature. We revisit the issue of monetary chaos by applying tools based on both the metric (correlation dimension and Lyapunov exponents) and topological (recurrence plots) approaches to chaos. For simple-sum and divisia monetary aggregates over an expanded sample period, the empirical evidence from both approaches is negative for monetary chaotic dynamics.