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Keynes' Chapter Twenty-Two: A System Dynamics Model

Author

Listed:
  • John Harvey

    (Department of Economics, Texas Christian University)

Abstract

The purpose of this paper is to illustrate the usefulness of Keynes' approach by modeling it using system dynamics. As this technique allows the researcher to place the analysis in time it is especially well suited to the task. It also allows us to see exactly which elements seem to create the characteristic shape of the business cycle and crisis.

Suggested Citation

  • John Harvey, 2002. "Keynes' Chapter Twenty-Two: A System Dynamics Model," Working Papers 200201, Texas Christian University, Department of Economics.
    • Handle: RePEc:tcu:wpaper:200201
    as

    Download full text from publisher

    File URL: http://www.econ.tcu.edu/RePEc/tcu/wpaper/wp02-01.pdf
    File Function: First version, 2002
    Download Restriction: no
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    Citations

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    Cited by:

    1. LUBAN Florica, 2009. "Using simulation to evaluate investment projects," Economia. Seria Management, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 12(1 Special), pages 139-144, July.
    2. John T. Harvey, 2010. "Modeling financial crises: a schematic approach," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 33(1), pages 61-82, October.
    3. Douglas J. Crookes & Martin P. De Wit, 2014. "Is System Dynamics Modelling of Relevance to Neoclassical Economists?," South African Journal of Economics, Economic Society of South Africa, vol. 82(2), pages 181-192, June.

    More about this item

    Keywords

    Keynes; system dynamics; computer simulation; business cycle;
    All these keywords.

    JEL classification:

    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • C63 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computational Techniques

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