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Effects of Uncertainty Shocks on Household Consumption and Working Hours: A Fuzzy Cognitive Map-Based Approach

This paper aims to model an individual’s decision-making process in relation to macroeconomic dynamics that involve a large number of variables, which might inflict dimensionality issue in empirical analysis. We employ the fuzzy cognitive map (FCM) for this purpose, and present a parsimonious approa...

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Main Authors: Yeonggyu Yun, Hye-Young Jung
Format: Artigo
Language:Inglês
Published: MDPI AG 2020-06-01
Series:Mathematics
Subjects:
consumption
fuzzy cognitive map
nonlinear Hebbian learning
uncertainty shock
working hours
Online Access:https://www.mdpi.com/2227-7390/8/6/889
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