Comment on “Nonlinear Monetary Dynamics” by DeCoster and Mitchell
对 DeCoster 与 Mitchell《非线性货币动态》的评论
The concept of dimension, its uses, and the difficulties in estimation are not universally well understood. A recent article in the Journal of Business & Economic Statistics by DeCoster and Mitchell (1991) (DM) illustrates our claim. Dimension calculations are useful for characterizing the topological properties of the data. The nonexistence of a lowdimensional attracting set, however, implies nothing about the presence of complicated dynamics. For succinct reference to…