The main task of this work is to develope a model able to encompass, at the same time, Keynesian, demand-driven, and Marxian, profit-driven determinants of fluctuations. Our starting point is the Goodwin's model (1967), rephrased in discrete time and extended by means of a coupled dynamics...

We analyse the implications of unions (efficient bargaining) for multiplicity of stationary states and welfare, local indeterminacy, bifurcations and endogenous fluctuations (deterministic and stochastic). We use an overlapping generations model with external increasing returns to scale, where...

This paper develops a discrete, nonlinear growth cycle model for a macroeconomy. The nonlinearities, which correspond to empirical relationships between profitability and capacity utilization in the postwar U.S. economy, can produce stable, periodic and chaotic behavior. These behaviors are...

This paper, written with the intention of formulating a macroeconomic model of trade cycles - following Kaldor's approach - explains the fluctuations of economic systems by using some numerical instruments. The reason for choosing a chaotic model will become clear as will the implications which...

Article introduces the notion of information money fields of the cyclic oscillations of the economic variables in the nonlinear dynamic economic system for the first time, and presents an original research on the Ledenyov theory on the information money fields of the cyclic oscillations of the...

Business cycles are oscillations in economy because of recessions and expansions. In this paper we investigate the oscillation of the Gross Domestic Product (GDP) as a result of its relations with the other main macroeconomic variables such as capital, consumption and investment. There is a...