Morishima's Nonlinear Model of the Cycle: Simplifications and Generalizations
Michio Morishima's nonlinear model of the trade cycle (Morishima, 1958) is simplified and generalized to show, by means of the Andronov-Hopf bifurcation theorem, the existence of a periodic orbit. In addition, an attempt is made to place Morishima's contribution in the broader tradition of the work of the Japanese School of Nonlinear Trade Cycle Theorists and to place this, in turn, within the context and development of the tradition of mathematical economics in early post-war Japan.
|Date of creation:||2005|
|Date of revision:||2005|
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- H. Rose, 1967. "On the Non-Linear Theory of the Employment Cycle," Review of Economic Studies, Oxford University Press, vol. 34(2), pages 153-173.
- Hicks, John R, 1974. "Real and Monetary Factors in Economic Fluctuations," Scottish Journal of Political Economy, Scottish Economic Society, vol. 21(3), pages 205-14, November.
- James J. Duesenberry, 1950. "Hicks on the Trade Cycle," The Quarterly Journal of Economics, Oxford University Press, vol. 64(3), pages 464-476.
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