Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/89339 
Erscheinungsjahr: 
2013
Schriftenreihe/Nr.: 
LEM Working Paper Series No. 2013/24
Verlag: 
Scuola Superiore Sant'Anna, Laboratory of Economics and Management (LEM), Pisa
Zusammenfassung: 
The main task of this work is to develope a model able to encompass, at the same time, Keynesian, demand-driven, and Marxian, profit-driven determinants of fluctuations. Our starting point is the Goodwin's model (1967), rephrased in discrete time and extended by means of a coupled dynamics structure. The model entails the combined interaction of a demand effect, which resembles a rudimentary first approximation to an accelerator, and of a hysteresis effect in wage formation in turn affecting investments. Our model yields business cycle movements either by means of persistent harmonic oscillations, or chaotic motions. These two different dynamical paths accounting for the behaviour of the system are influenced by its (predominantly) profit-led or wage-led structures.
Schlagwörter: 
Endogenous Growth
Business Cycles
Investment
Aggregate Demand
Complex Systems
Nonlinear Dynamics
Chaos Theory
JEL: 
E32
E11
E12
E17
Dokumentart: 
Working Paper

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