Are There Goodwin Employment-Distribution Cycles? Theoretical and Empirical Evidence
Goodwin's predator prey model predicts cycles in the employment distribution space. After the Cambridge capital controversies this particular model can not be seen as theoretically consistent. However, evidence is provided in favour of non-linear dynamic behaviour for a sample of 67 countries, some of which have cycles similar to those predicted by the model.
|Date of creation:||14 May 2008|
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