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The Samuelson macroeconomic model as a singular linear matrix difference equation

Author

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  • Fernando Ortega

    (Universitat Autonoma de Barcelona)

  • Maria Filomena Barros

    (Universitat Autonoma de Barcelona)

Abstract

In this paper, we revisit the famous classical Samuelson’s multiplier–accelerator model for national economy. We reform this model into a singular discrete time system and study its solutions. The advantage of this study gives a better understanding of the structure of the model and more deep and elegant results.

Suggested Citation

  • Fernando Ortega & Maria Filomena Barros, 2020. "The Samuelson macroeconomic model as a singular linear matrix difference equation," Journal of Economic Structures, Springer;Pan-Pacific Association of Input-Output Studies (PAPAIOS), vol. 9(1), pages 1-10, December.
    • Handle: RePEc:spr:jecstr:v:9:y:2020:i:1:d:10.1186_s40008-020-00207-3
    DOI: 10.1186/s40008-020-00207-3
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    References listed on IDEAS

    as
    1. Ioannis K. Dassios & Mel T. Devine, 2016. "A macroeconomic mathematical model for the national income of a union of countries with interaction and trade," Journal of Economic Structures, Springer;Pan-Pacific Association of Input-Output Studies (PAPAIOS), vol. 5(1), pages 1-15, December.
    2. Dassios, Ioannis K. & Baleanu, Dumitru I., 2018. "Caputo and related fractional derivatives in singular systems," Applied Mathematics and Computation, Elsevier, vol. 337(C), pages 591-606.
    3. Dassios, Ioannis K. & Szajowski, Krzysztof J., 2016. "Bayesian optimal control for a non-autonomous stochastic discrete time system," Applied Mathematics and Computation, Elsevier, vol. 274(C), pages 556-564.
    4. Maria Filomena Barros & Fernando Ortega, 2019. "An optimal equilibrium for a reformulated Samuelson economic discrete time system," Journal of Economic Structures, Springer;Pan-Pacific Association of Input-Output Studies (PAPAIOS), vol. 8(1), pages 1-10, December.
    5. Muyang Liu & Ioannis Dassios & Georgios Tzounas & Federico Milano, 2020. "Model-Independent Derivative Control Delay Compensation Methods for Power Systems," Energies, MDPI, vol. 13(2), pages 1-18, January.
    6. Dassios, Ioannis & Tzounas, Georgios & Milano, Federico, 2019. "The Möbius transform effect in singular systems of differential equations," Applied Mathematics and Computation, Elsevier, vol. 361(C), pages 338-353.
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    Cited by:

    1. Fabio Tramontana & Laura Gardini, 2021. "Revisiting Samuelson’s models, linear and nonlinear, stability conditions and oscillating dynamics," Journal of Economic Structures, Springer;Pan-Pacific Association of Input-Output Studies (PAPAIOS), vol. 10(1), pages 1-15, December.

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