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A disequilibrium macrodynamic model of fluctuations

  • Velupillai, K. Vela
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    A nonlinear disequilibrium macrodynamic model of ?uctuations in the labour and product markets, mediated by variations in factor shares, is developed and the exis- tence of a periodic orbit is proved using the Hopf bifurcation theore

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    Article provided by Elsevier in its journal Journal of Macroeconomics.

    Volume (Year): 28 (2006)
    Issue (Month): 4 (December)
    Pages: 752-767

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    Handle: RePEc:eee:jmacro:v:28:y:2006:i:4:p:752-767
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    1. James Tobin, 1975. "Keynesian Models of Recession and Depression," Cowles Foundation Discussion Papers 387, Cowles Foundation for Research in Economics, Yale University.
    2. Chiarella,Carl & Flaschel,Peter, 2000. "The Dynamics of Keynesian Monetary Growth," Cambridge Books, Cambridge University Press, number 9780521643511, October.
    3. T. Asada & P. Chen, 2004. "Keynesian Dynamics and the wage price spiral. A baseline disequilibrium approach," Computing in Economics and Finance 2004 262, Society for Computational Economics.
    4. Robert M. Solow, 1979. "Alternative Approaches to Macroeconomic Theory: A Partial View," Canadian Journal of Economics, Canadian Economics Association, vol. 12(3), pages 339-54, August.
    5. Uzawa, H, 1969. "Time Preference and the Penrose Effect in a Two-Class Model of Economic Growth," Journal of Political Economy, University of Chicago Press, vol. 77(4), pages 628-52, Part II, .
    6. Solow, Robert M., 1979. "Another possible source of wage stickiness," Journal of Macroeconomics, Elsevier, vol. 1(1), pages 79-82.
    7. Toichiro Asada & Carl Chiarella & Peter Flaschel, 2003. "Keynes-Metzler-Goodwin Model Building: The Closed Economy," Working Paper Series 124, Finance Discipline Group, UTS Business School, University of Technology, Sydney.
    8. Franke, Reiner & Asada, Toichiro, 1994. "A Keynes-Goodwin model of the business cycle," Journal of Economic Behavior & Organization, Elsevier, vol. 24(3), pages 273-295, August.
    9. Emile Grunberg & Franco Modigliani, 1954. "The Predictability of Social Events," Journal of Political Economy, University of Chicago Press, vol. 62, pages 465.
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