Quantitative Evidence Of Goodwin´S Non-Linear Growth Cycles
AbstractThe article searches for quantitative evidence in favor of an extended version of Goodwin´s predator-prey model of endogenous distribution-employment cycles for 16 countries. The model is extended to include several harmonics in both series. The model fits all the observations both within sample and out of sample for half of the countries, with a 10% error, and for 4 countries with a 5% error. This suggests that the model may be useful in empirical work.
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Bibliographic InfoPaper provided by UN - RCE - CID in its series DOCUMENTOS DE TRABAJO - ESCUELA DE ECONOMÍA with number 007465.
Date of creation: 22 Sep 2010
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Predator - prey model; Non - linear dynamic behavior; Demand cycles; Employment; Distribution.;
Find related papers by JEL classification:
- C10 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - General
- E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
- E19 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Other
- O47 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
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