Keynes' Chapter Twenty-Two: A System Dynamics Model
AbstractThe 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.
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Bibliographic InfoPaper provided by Texas Christian University, Department of Economics in its series Working Papers with number 200201.
Length: 13 pages
Date of creation: Feb 2002
Date of revision:
Publication status: Published in Journal of Economic Issues, June 2002, pages 373-81
Keynes; system dynamics; computer simulation; business cycle;
Find related papers by JEL classification:
- E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian
- 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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- John T. Harvey, 2010.
"Modeling financial crises: a schematic approach,"
Journal of Post Keynesian Economics,
M.E. Sharpe, Inc., vol. 33(1), pages 61-82, October.
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