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An endogenous Goodwin-Keynes business cycle model: Evidence for Germany (1991-2007)

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  • Konstantakis, Konstantinos N.
  • Michaelides, Panayotis G.
  • Mariolis, Theodore

Abstract

This article studies business cycles with the use of a novel Goodwin--Keynes type model. Based on its derived equations of motion and dynamic properties, we estimate the proposed model for the case of the German economy, the locomotive of the EMU, in the period 1991 to 2007, using relevant econometric techniques. The empirical estimation of the proposed model is very satisfactory, in contrast to previous efforts to empirically implement the original Goodwin model.

Suggested Citation

  • Konstantakis, Konstantinos N. & Michaelides, Panayotis G. & Mariolis, Theodore, 2014. "An endogenous Goodwin-Keynes business cycle model: Evidence for Germany (1991-2007)," MPRA Paper 90035, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:90035
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    1. Konstantakis, Konstantinos N. & Michaelides, Panayotis G. & Mariolis, Theodore, 2018. "A non-linear post-Keynesian Goodwin-type endogenous model of the cycle for the USA," MPRA Paper 90036, University Library of Munich, Germany.

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    More about this item

    Keywords

    Keynes; Goodwin; Endogenous Business Cycles; Germany;
    All these keywords.

    JEL classification:

    • C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
    • C62 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Existence and Stability Conditions of Equilibrium

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