In this paper, we classify the linear second order partial differential equations. We will show that there are three types of partial differential equations hyperbolic, elliptic and parabolic. We are study hyperbolic equations and the type of equation will turn out to be decisive in establishing...

This study presents an equation of income derived from the Keynesian IS curve and the consumption Euler equation that explains the business cycle. Drawing on multi-period data from Japan, the model confirms the conventional wisdom that the appropriate policy response to an inflationary gap is to...