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Morishima's Nonlinear Model of the Cycle: Simplifications and Generalizations

  • K. Vela Velupillai

    (Department of Economics, National University of Ireland, Galway)

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    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.

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    Paper provided by National University of Ireland Galway, Department of Economics in its series Working Papers with number 0095.

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    Date of creation: 2005
    Date of revision: 2005
    Handle: RePEc:nig:wpaper:0095
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    1. 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.
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