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The Harrod Model

In: Nonlinearities in Economics

Author

Listed:
  • Giuseppe Orlando

    (University of Bari, Department of Economics and Finance
    University of Camerino, School of Sciences and Technology)

  • Mario Sportelli

    (University of Bari, Department Mathematics)

  • Fabio Della Rossa

    (University of Naples “Federico II”, Department of Electrical Engineering and Information Technology
    Information and Bioengineering)

Abstract

As mentioned in the Introduction, Sect. 1.2 , the objective of this book is twofold: to provide a personal specification of a business cycle model within the Kaldor–Kalecki framework (see Chap. 16 ) and to choose a chaotic specification of the Harrod model (Sportelli and Celi (Metroeconomica 62:459–493, 2011)) to prove that (1) real data can be obtained by a suitable calibration of model’s parameters and (2) the calibrated model confirms theoretical predictions (Orlando and Della Rossa (Mathematics 7:524, 2019)). In this chapter, we first explain the Domar model and the Harrod model separately, and then we describe the mathematical foundation to the Harrod’s instability principle that will be tested then in Chap. 18 .

Suggested Citation

  • Giuseppe Orlando & Mario Sportelli & Fabio Della Rossa, 2021. "The Harrod Model," Dynamic Modeling and Econometrics in Economics and Finance, in: Giuseppe Orlando & Alexander N. Pisarchik & Ruedi Stoop (ed.), Nonlinearities in Economics, chapter 0, pages 177-189, Springer.
    • Handle: RePEc:spr:dymchp:978-3-030-70982-2_13
    DOI: 10.1007/978-3-030-70982-2_13
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