Wavelike patterns in one-dimensional coupled map lattices

We investigate the existence of wavelike solution for the logistic coupled map lattices for which the spatiotemporal periodic patterns can be predicted by a simple two-dimensional mapping. The existence of such wavelike solutions is proved by the implicit function theorem with constraints. We also examine the stabilities of these wave solutions under perturbations of uniform small deformation type. We show that in some specific cases these perturbations are completely general. The technique used in this paper is also applicable to investigate other space-time regular patterns.

New Keynesian Model Features that Can Reproduce Lead, Lag and Persistence Patterns

This paper uses a new method for describing dynamic comovement and persistence in economic time series which builds on the contemporaneous forecast error method developed in den Haan (2000). This data description method is then used to address issues in New Keynesian model performance in two ways. First, well known data patterns, such as output and inflation leads and lags and inflation persistence, are decomposed into forecast horizon components to give a more complete description of the data patterns. These results show that the well known lead and lag patterns between output and inflation arise mostly in the medium term forecasts horizons. Second, the data summary method is used to investigate a rich New Keynesian model with many modeling features to see which of these features can reproduce lead, lag and persistence patterns seen in the data. Many studies have suggested that a backward looking component in the Phillips curve is needed to match the data, but our simulations show this is not necessary. We show that a simple general equilibrium model with persistent IS curve shocks and persistent supply shocks can reproduce the lead, lag and persistence patterns seen in the data.