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In this paper we test for deterministic chaos in seven East European black market exchange rates, using Koedijk and Kool's (1992, Journal of Business and Economic Statistics, 10, 83-96) monthly data from January 1955 through May 1990. In doing so we use three (non-parametric) inference methods, the BDS (Brocket al., 1996, Econometric Reviews, 15, 197-235) test for whiteness, the Lyapunov exponent...
The aim of these lecture notes is to present a few mathematical facts about the bifurcations of nonlinear difference equations, in a concise and simple form that might be useable by economic theorists.
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