There is a general acceptance of the fact that a significant direct relationship between financial markets and macroeconomic variables exists, especially by considering the assertion that developed financial markets correspond to high GDP levels. This paper provides an investigation of the...

We present an extension of the Goodwin growth-cycle model that considers the rate of capacity utilization as a new variable in an adapted Lotka-Volterra system of differential equations. We derive a differential equation for the capacity utilization that is proportional to the difference between...