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

Author

Listed:
  • K. Vela Velupillai

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

Abstract

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.

Suggested Citation

  • K. Vela Velupillai, 2005. "Morishima's Nonlinear Model of the Cycle: Simplifications and Generalizations," Working Papers 0095, National University of Ireland Galway, Department of Economics, revised 2005.
    • Handle: RePEc:nig:wpaper:0095
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    File URL: http://www.economics.nuig.ie/resrch/paper.php?pid=102
    File Function: First version, 2005
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    File URL: http://www.economics.nuig.ie/resrch/paper.php?pid=102
    File Function: Revised version, 2005
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    More about this item

    Keywords

    Business Cycles; Nonlinear Dynamics; Endogenous Cycles; Bifurcation Theory;
    All these keywords.

    JEL classification:

    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals
    • C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles

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