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Study of Samuelson’s General Model of National Economy and Definition of Asymptotic-Stability Conditions

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  • Athanasios D. Karageorgos
  • Grigoris I Kalogeropoulos

Abstract

In this particular paper we firstly deal with Samuelson’s model of national economy. We create a difference equation which reflects Samuelson’s model for the national income of a country taking into consideration the expenditure and the investments of the two previous years and not only the immediately previous one. Later we find the saddle-point and deal with its stability giving conditions concerning the coefficient of the difference equation and which are able (sufficient) and necessary in order for the saddle-point to be stable.

Suggested Citation

  • Athanasios D. Karageorgos & Grigoris I Kalogeropoulos, 2018. "Study of Samuelson’s General Model of National Economy and Definition of Asymptotic-Stability Conditions," Journal of Mathematics Research, Canadian Center of Science and Education, vol. 10(5), pages 129-136, October.
    • Handle: RePEc:ibn:jmrjnl:v:10:y:2018:i:5:p:129
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    References listed on IDEAS

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    1. Chow, Gregory C, 1985. "A Model of Chinese National Income Determination," Journal of Political Economy, University of Chicago Press, vol. 93(4), pages 782-792, August.
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    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z0 - Other Special Topics - - General

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