IDEAS home Printed from https://ideas.repec.org/p/pra/mprapa/74451.html
   My bibliography  Save this paper

An Extended Nonlinear Hicks Model of the Cycle for a Semi-Open Economy: Application to the USA (1960-2008)

Author

Listed:
  • Michaelides, Panayotis G.
  • Belegri-Roboli, Athena
  • Arapis, Gerasimos

Abstract

This paper presents both an extended nonlinear Hicks model of the cycle for a semi-open economy and a method for deriving estimators based on Nonlinear Least Squares as a Numerical Optimization Problem. Hicks thought that fluctuations in investment, caused by nonlinear changes in autonomous investment and the acceleration principle governing induced investment, led to an adjustment process taking place throughout many periods. An empirical application for the US economy (1960-2008), demonstrates the validity of the model and its almost ideal fit to real world data.

Suggested Citation

  • Michaelides, Panayotis G. & Belegri-Roboli, Athena & Arapis, Gerasimos, 2009. "An Extended Nonlinear Hicks Model of the Cycle for a Semi-Open Economy: Application to the USA (1960-2008)," MPRA Paper 74451, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:74451
    as

    Download full text from publisher

    File URL: https://mpra.ub.uni-muenchen.de/74451/1/MPRA_paper_74451.pdf
    File Function: original version
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    Nonlinear; Hicks model; dynamics; US economy;
    All these keywords.

    JEL classification:

    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • N12 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - U.S.; Canada: 1913-

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:74451. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: . General contact details of provider: https://edirc.repec.org/data/vfmunde.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Joachim Winter (email available below). General contact details of provider: https://edirc.repec.org/data/vfmunde.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.