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Bautin Bifurcation in a Kaldor Kalecki model

Mehlab, Stefano; Orlando, Giuseppe - 2023

Kaldor-Kalecki model is one of the first models that use non-linear functions to explain the chaotic behaviour of the economic system. Re-elaborating the model we tried to prove the existence of a Bautin bifurcation for the discrete version of the model with an adaptation of the mathematical...

Persistent link: https://www.econbiz.de/10014255882

China, Europe, and the Great Divergence: Further Concerns about the Historical GDP Estimates for China

Solar, Peter M. - 2021

for China's population and its implications for dating the Great Divergence. This working paper assesses their revisions …, reaffirms concerns about the level of their 1840 benchmark, and points out the weaknesses of the population figures in greater … detail. The dating of the Great Divergence turns out to depend on the population series used and on the interpretation of …

Persistent link: https://www.econbiz.de/10012669566

Comparing shocks and frictions in US and euro area business cycles

Smets, Frank; Wouters, Raf - 2004

This paper estimates a DSGE model with many types of shocks and frictions for both the US and the euro area economy over a common sample period (1974-2002). The structural estimation methodology allows us to investigate whether differences in business cycle behaviour are due to differences in...

Persistent link: https://www.econbiz.de/10009639451

Okun’s Law as a Pi-to-1 ratio: A harmonic / trigonometric theory as to why Okun’s Law works

Albers, Scott - Volkswirtschaftliche Fakultät, … - 2013

“Okun’s Law” states a 3:1 proportion between percent growth in U. S. real GNP and percent decrease in the rate of unemployment. This paper argues that this ratio is actually a Pi:1 proportion, heretofore unrecognized because it is displayed through a form of mathematic / harmonic inverse....

Persistent link: https://www.econbiz.de/10011260030

Does “Okun’s Law” state a Pi:1 ratio? Toward a harmonic interpretation of why Okun’s Law works

Albers, Scott; Albers, Andrew L. - Volkswirtschaftliche Fakultät, … - 2013

In Albers & Albers (Spring, 2013) we demonstrated that the historic development of U.S. real GNP, 1869-present, may be structured in recurring 14-year periods. A steady-state rate of growth of 3.4969% is thereby calculated, generating an increase in real GNP proportional to the famous “Golden...

Persistent link: https://www.econbiz.de/10011260122

A New Keynesian Open Economy Model for Policy Analysis

Carlin, Wendy; Soskice, David - C.E.P.R. Discussion Papers - 2010

"Macroeconomics without the LM curve" has begun to move advanced undergraduate closed economy macroeconomics teaching models away from the IS/LM approach to simple versions of the New Keynesian models taught in graduate courses and used in central banks. But the equally traditional and...

Persistent link: https://www.econbiz.de/10008611019

Imperfect Information and Aggregate Supply

Reis, Ricardo; Mankiw, N. Gregory - National Bureau of Economic Research (NBER) - 2010

curve. This new work has emphasized that information is dispersed and disseminates slowly across a population of agents who …

Persistent link: https://www.econbiz.de/10008615778

Imperfect Information and Aggregate Supply

Mankiw, N. Gregory; Reis, Ricardo - Department of Economics, School of Arts and Sciences - 2010

curve. This new work has emphasized that information is dispersed and disseminates slowly across a population of agents who …

Persistent link: https://www.econbiz.de/10008622090

Monetary policy effects on output and exchange rates: Results from US, UK and Japan

Caglayan, Mustafa; Mouratidis, Kostas; Saeidinezhad, Elham - Department of Economics, University of Sheffield - 2011

We investigate the effects of "contractionary" monetary shocks by imposing sign restrictions on the impulse responses of macroeconomic variables up to six months while allowing industrial production and exchange rate to be completely determined by the data. We show that i) the effect of an...

Persistent link: https://www.econbiz.de/10009146871

The End of Loser Liberalism: Making Markets Progressive

Baker, Dean - Center for Economic and Policy Research (CEPR)

progressives can focus their efforts in restructuring the market so that more income flows to the bulk of the working population …

Persistent link: https://www.econbiz.de/10009364321