Dr. Noemi Schmitt

Akademische Rätin (a.Z.)  

Otto-Friedrich-Universität Bamberg
Lehrstuhl für VWL, insb. Wirtschaftspolitik
Feldkirchenstr. 21                                                 
96045 Bamberg

Raum: F21/02.03b
Tel.: [+49] (951) 863-2748
E-Mail: noemi.schmitt(at)uni-bamberg.de

Sprechstunde: Mittwoch, 12:30 - 13:30 Uhr, Dienstag  (Mathematica), 12:00 - 14:00 Uhr

Curriculum Vitae(441.1 KB, 4 Seiten)

Research Interests

• Agent-based modeling, dynamics of financial markets and market interactions.
• Nonlinear dynamics, heterogeneous agents, bounded rationality and market instabilities.

Publications

• Gardini, L., Radi, D., Schmitt, N., Sushko, I. and Westerhoff, F. (2024): Bifurcation structures of a two-dimensional piecewise-linear discontinuous map: analysis of a cobweb model with regime-switching expectations. Nonlinear Dynamics, in press.
• Gardini, L., Radi, D., Schmitt, N., Sushko, I. and Westerhoff, F. (2024): Exchange rate dynamics and central bank interventions: On the (de)stabilizing nature of targeting long-run fundamentals interventions. Nonlinear Dynamics, Psychology, and Life Sciences, Vol. 28, No. 2, 261-287.
• Gardini, L., Radi, D., Schmitt, N., Sushko, I. and Westerhoff, F. (2023): A 2D piecewise-linear discontinuous map arising in stock market modeling: two overlapping period-adding bifurcation structures. Chaos, Solitons and Fractals, Vol. 176, Article 114143.
• Gardini, L., Radi, D., Schmitt, N., Sushko, I. and Westerhoff, F. (2023): Sentiment-driven business cycle dynamics: An elementary macroeconomic model with animal spirits. Journal of Economic Behavior and Organization, Vol. 210, 342-359.
• Dieci, R., Mignot, S., Schmitt, N. and Westerhoff, F. (2023): Production delays, supply distortions and endogenous price dynamics.Communications in Nonlinear Science and Numerical Simulation, Vol. 117, Article 106887.
• Gardini, L., Radi, D., Schmitt, N., Sushko, I. and Westerhoff, F. (2022): Perception of fundamental values and financial market dynamics: Mathematical insights from a 2D piecewise linear map. SIAM Journal on Applied Dynamical Systems, Vol. 21, 2314-2337.
• Gardini, L., Radi, D., Schmitt, N., Sushko, I. and Westerhoff, F. (2022): Currency manipulation and currency wars: analyzing the dynamics of competitive central bank interventions.  Journal of Economic Dynamics and Control, Vol. 145, Article 104545.
• Gardini, L., Radi, D., Schmitt, N., Sushko, I. and Westerhoff, F. (2022): Causes of fragile stock market stability. Journal of Economic Behavior and Organization, Vol. 200, 483-498.
• Martin, C., Schmitt, N. and Westerhoff, F. (2022): Housing markets, expectation formation and interest rates. Macroeconomic Dynamics, Vol. 26, 491-532.
• Schmitt, N. and Westerhoff, F. (2022): Speculative housing markets and rent control: insights from nonlinear economic dynamics. Journal of Economic Interaction and Coordination, Vol. 17, 141-163.
• Schmitt, N. and Westerhoff, F. (2021): Trend followers, contrarians and fundamentalists: explaining the dynamics of financial markets. Journal of Economic Behavior and Organization, Vol. 192, 117-136.
• Schmitt, N. (2021): Heterogeneous expectations and asset price dynamics.Macroeconomic Dynamics, Vol. 25, 1538–1568.
• Martin, C., Schmitt, N. and Westerhoff, F. (2021): Heterogeneous expectations, housing bubbles and tax policy. Journal of Economic Behavior and Organization, Vol. 183, 555-573.
• Gardini, L., Schmitt, N., Sushko, I., Tramontana, F. and Westerhoff, F. (2021): Necessary and sufficient conditions for the roots of a cubic polynomial and bifurcations of codimension-1, -2, -3 for 3D maps. Journal of Difference Equations and Applications, Vol. 27, 557-578.
• Schmitt, N. and Westerhoff, F. (2021): Pricking asset market bubbles.Finance Research Letters, Vol. 38, 101441.
• Schmitt, N., Schwartz, I. and Westerhoff, F. (2020): Heterogeneous speculators and stock market dynamics: a simple agent-based computational model.The European Journal of Finance, forthcoming.
• Schmitt, N., Tramontana, F. and Westerhoff, F. (2020): Nonlinear asset-price dynamics and stabilization policies.Nonlinear Dynamics, Vol. 102, 1045-1070.
• Lines, M., Schmitt, N. and Westerhoff, F. (2020): Stability conditions for three-dimensional maps and their associated bifurcation types.Applied Economics Letters, Vol. 27, 1056-1060.
• Schmitt, N. and Westerhoff, F. (2019): Short-run momentum, long-run mean reversion and excess volatility: an elementary housing model.Economics Letters, Vol. 176, 43-46.
• Dieci, R., Schmitt, N. and Westerhoff, F. (2018): Steady states, stability and bifurcations in multi-asset market models.Decisions in Economics and Finance, Vol. 41, 357-378.
• Dieci, R., Schmitt, N. and Westerhoff, F. (2018): Interactions between stock, bond and housing markets.  Journal of Economic Dynamics and Control, Vol. 91, 43-70.
• Blaurock, I., Schmitt, N., and Westerhoff, F. (2018): Market entry waves and volatility outbursts in stock markets.Journal of Economic Behavior and Organization, Vol. 153, 19-37.
• Schmitt, N., Tuinstra, J. and Westerhoff, F. (2018): Stability and welfare effects of profit taxes within an evolutionary market interaction model.Review of International Economics, Vol. 26, 691-708.
• Schmitt, N. and Westerhoff, F. (2018): Evolutionary competition and profit taxes: market stability versus tax burden.Macroeconomic Dynamics, Vol. 22, 2007-2031.
• Schmitt, N. and Westerhoff, F. (2017): On the bimodality of the distribution of the S&P 500's distortion: empirical evidence and theoretical explanations.  Journal of Economic Dynamics and Control, Vol. 80, 34-53.
• Schmitt, N. and Westerhoff, F. (2017): Heterogeneity, spontaneous coordination and extreme events within large-scale and small-scale agent-based financial market models. Journal of Evolutionary Economics, Vol. 27, 1041-1070.
• Schmitt, N., Tuinstra, J. and Westerhoff, F. (2017): Side effects of nonlinear profit taxes in a behavioral market entry model: abrupt changes, coexisting attractors and hysteresis problems. Journal of Economic Behavior and Organization, Vol. 135, 15-38.
• Schmitt, N. and Westerhoff, F. (2017): Herding behaviour and volatility clustering in financial markets.  Quantitative Finance, Vol. 17, 1187-1203.
• Schmitt, N. and Westerhoff, F. (2016): Stock market participation and endogenous boom-bust dynamics. Economics Letters, Vol. 148, 72-75.
• Schmitt, N. and Westerhoff, F. (2015): Managing rational routes to randomness. Journal of Economic Behavior and Organization, Vol. 116, 157-173.
• Schmitt, N. and Westerhoff, F. (2014): Speculative behavior and the dynamics of interacting stock markets. Journal of Economic Dynamics and Control, Vol. 45, 262-288.

Book Chapters

• Schmitt, N., Tuinstra, J. and Westerhoff, F. (2017): Market interactions, endogenous dynamics and stabilization policies. In: Commendatore, P., Kubin, I., Bougheas, S., Kirman, A., Kopen, M. and Bischi, G.I (eds.): The Economy as a Complex Spatial System. Springer, Berlin, 137-152.

Working Papers

• Gardini, L., Radi, D., Schmitt, N., Sushko, I. and Westerhoff, F. (2024): New Economic Era Thinking and Stock Market Bubbles: A Two-Dimensional Piecewise Linear Discontinuous Map Approach. Working Paper, University of Bamberg.
• Gardini, L., Radi, D., Schmitt, N., Sushko, I. and Westerhoff, F. (2023): On boom-bust stock market dynamics, animal spirits and the destabilizing nature of temporarily attracting virtual fixed points. Working Paper, University of Bamberg.
• Dieci, R., Schmitt, N. and Westerhoff, F. (2022): Boom-bust cycles and asset market participation waves: momentum, value, risk and herding. Working Paper, University of Bamberg.