Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/261532 
Year of Publication: 
2019
Citation: 
[Journal:] Journal of Economic Structures [ISSN:] 2193-2409 [Volume:] 8 [Issue:] 29 [Publisher:] Springer [Place:] Heidelberg [Year:] 2019 [Pages:] 1-10
Publisher: 
Springer, Heidelberg
Abstract: 
This paper studies the equilibrium of an extended case of the classical Samuelson's multiplier-accelerator model for national economy. This case has incorporated some kind of memory into the system. We assume that total consumption and private investment depend upon the national income values. Then, delayed difference equations of third order are employed to describe the model, while the respective solutions of third-order polynomial correspond to the typical observed business cycles of real economy. We focus on the case that the equilibrium is not unique and provide a method to obtain the optimal equilibrium.
Subjects: 
Economic modelling
Samuelson model
Diference equations
Equilibrium
Optimal
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

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