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Persistent link: https://www.econbiz.de/10009307717
The article searches for quantitative evidence in favor of an extended version of Goodwin´s predator-prey model of endogenous distribution-employment cycles for 16 countries. The model is extended to include several harmonics in both series. The model fits all the observations both within...
Persistent link: https://www.econbiz.de/10013137569
Goodwin's predator-prey model predicts clockwise cycles in the employment–distribution space. Qualitative evidence is provided in favour of nonlinear dynamic behaviour for a sample of 67 countries, some of which have cycles similar to those predicted by the model. Predicted centres lie outside...
Persistent link: https://www.econbiz.de/10013131341