Barbosa-Filho, Nelson H.; Taylor, Lance - In: Metroeconomica 57 (2006) 3, pp. 389-411
There are regular counterclockwise cycles involving capacity utilization u (horizontal axis) and the labor share &psgr; (vertical axis) in the US economy since 1929. As in Goodwin's cyclical growth model, &psgr; can be interpreted as a Lotka-Volterra predator variable and u as prey. In a phase diagram,...