Coupled Dynamics in the Phillips Machine Model of the Macroeconomy
AbstractIn this paper it is claimed that the Phillips machine is a nonlinear mechanism. Phillips (1950) presented his machine as being described with a linear differential equation. In this paper it is claimed that the machine is better described with a system of nonlinear difference.-differential equations. This system itself is approximated by a set of nonlinear differential equations. This differential equations are of the Hicks-Goodwin flexible multiplier accelerator type. Consistently with this conjecture and following Phillips’ suggestion we have presented a ‘digital’ simulation of two coupled would-be Phillips machines.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by ASSRU - Algorithmic Social Science Research Unit in its series ASSRU Discussion Papers with number 1011.
Date of creation: 2010
Date of revision:
computable economics; flexible-accelerator; coupled dynamical systems; Goodwin; Phillips machine; MONIAC;
Find related papers by JEL classification:
- A10 - General Economics and Teaching - - General Economics - - - General
- B16 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Quantitative and Mathematical
- B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology
- C63 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computational Techniques
- F44 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - International Business Cycles
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Stefano Zambelli, 2012. "Dynamical Coupling, Nonlinear Accelerator and the Persistence of Business Cycles," ASSRU Discussion Papers 1214, ASSRU - Algorithmic Social Science Research Unit.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (email@example.com).
If references are entirely missing, you can add them using this form.