Is there chaos in the Spanish labour market?

COVID19: Holiday intentions during a pandemic

“…It is derived from the amalgamation of the words chaos and order, and creates the technical term ‘chaord’ ( Van-Eijnatten, Putnik, & Sluga, 2007 ). The main characteristic of a chaordic system is the dynamic and complex set of specific elemental connections that formulate a unified whole, whilst behaviourally it is at the same time unpredictable (chaos) even if it follows specific patterns (order) ( Olmedo, 2011 ). The main features of these systems are ( Olmedo & Mateos, 2015 ): (i) the impossibility of long-term planning; (ii) their constant change, and their potential to form new complex structures in a spontaneous and endogenous manner; and (iii) their substantial influence based upon unexpectedly dramatic changes.…”

Comparison of Near Neighbour and Neural Network in Travel Forecasting

“…The purpose of the m ‐dimensional reconstructed system is to unfold the projection back to a multivariate state space with the same dynamics of the original one. Thus the location of the embedding dimension m is a key point to assure a proper reconstruction (Olmedo, ).…”

Unemployment forecasts, time varying coefficient models and the Okun’s law in Spanish regions

“…However, the accuracy of the models is not good enough to provide reliable forecasts in real-time forecasting exercises for Spanish regions. Difficulties in order to obtain accurate forecasts of the Spanish aggregate unemployment rate have already been highlighted in the previous literature (see, for instance, Olmedo, 2011). Future research could expand into two directions: first, the consideration of non-linearities; and, second, the development of more sophisticated tools trying to better capture the complex relationship between unemployment, economic activity and other factors (i.e., macroeconometric forecasting models).…”