Costa Lima, B.; Grasselli, M.R.; Wang, X.-S.; Wu, J. - In: Structural Change and Economic Dynamics 30 (2014) C, pp. 30-51
The basic Keen model is a three-dimensional dynamical system describing the time evolution of the wage share, employment rate, and private debt in a closed economy. In the absence of government intervention this system admits, among others, two locally stable equilibria: one with a finite level...