Год выпуска: 2009 Автор: Carl Chiarella, Hing Hung, Peter Flaschel, Willi Semmler Издательство: Страниц: 0 ISBN: 160456654X
Описание
In this book the authors investigate, from the numerical perspective, the 18D core dynamics of a theoretical 39D representation of an applied Keynesian disequilibrium model of monetary growth of a small open economy. After considering the model from the viewpoint of national accounting, the authors provide a compact description of the intensive form of the model, its laws of motion and accompanying algebraic expressions and its unique interior steady state solution. The authors then give a survey of various types of subsystems that can be isolated from the integrated 18D dynamics by means of suitable assumptions. These subsystems and the full 18D dynamics are investigated and compared in the remainder of the paper from the perspective of bifurcation diagrams that separate situations of asymptotic stability from stable cyclical behaviour as well as pure explosiveness.In this way the authors lay the foundations for an analysis of business cycle fluctuations in applicable high order...
