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present the Phillips curve (which statistically relates unemployment with the rate of change of nominal wages) and then the … Goodwin model. The latter reinterprets, in economical terms, the dynamics of biological prey–predator struggle as described by … the Lotka-Volterra model. The interaction between the two species reminded Goodwin about the Marxian conflict of class …
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Marxian, profit-driven determinants of fluctuations. Our starting point is the Goodwin's model (1967), rephrased in discrete …
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