Uniqueness in planar endogenous business cycle theories. (English) Zbl 1470.91168
Velupillai, Kumaraswamy (ed.), Keynesian, Sraffian, computable and dynamic economics. Theoretical and simulational (numerical) approaches. Cham: Palgrave Macmillan. 273-310 (2021).
Summary: We examine some uniqueness theorems concerning the attractors (limit cycles) of dynamic planar models of non-linear, endogenous theories of the business cycle. We confine our attention to the pioneering models of Goodwin, Kaldor, Hicks and their variations. For Goodwin’s non-linear multiplier-accelerator model with a single non-linearity, we provide sufficient conditions for establishing uniqueness of the limit cycle based on a theorem by de Figueiredo. We also discuss issues concerning the algorithmic decidability of the number of attractors for these models within the framework of computable analysis.
For the entire collection see [Zbl 1470.91008].
For the entire collection see [Zbl 1470.91008].
MSC:
| 91B62 | Economic growth models |
References:
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