A Disequilibrium Macrodynamic Model of Fluctuations
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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|Date of revision:||2004|
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- Chiarella,Carl & Flaschel,Peter, 2011.
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- 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.
- Toichiro Asada & Pu Chen & Carl Chiarella & Peter Flaschel, 2004.
"Keynesian Dynamics and the Wage Price Spiral. A Baseline Disequilibrium Approach,"
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