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Business Cycle Dynamics : Models and Tools /

Contributor(s): Puu, Tönu [editor.] | Sushko, Iryna [editor.] | SpringerLink (Online service).
Material type: materialTypeLabelBookPublisher: Berlin, Heidelberg : Springer Berlin Heidelberg, 2006.Description: VIII, 336 p. online resource.Content type: text Media type: computer Carrier type: online resourceISBN: 9783540321682.Subject(s): Economic theory | Macroeconomics | Economics | Macroeconomics/Monetary Economics//Financial Economics | Economic Theory/Quantitative Economics/Mathematical MethodsDDC classification: 339 Online resources: Click here to access online
Contents:
Aims and Scope -- Some Methods for the Global Analysis of Closed Invariant Curves in Two-Dimensional Maps -- Center Bifurcation for a Two-Dimensional Piecewise Linear Map -- Short History of the Multiplier-Accelerator Model -- Multiplier-Accelerator Models with Random Perturbations -- Non-Autonomous Business Cycle Model -- The Hicksian Model with Investment Floor and Income Ceiling -- Growth Cycles in a Modified Hicksian Business Cycle Model -- Coexistence of Attractors and Homoclinic Loops in a Kaldor-Like Business Cycle Model -- Expectations and the Multiplier-Accelerator Model -- ‘Floors’ and/or ‘Ceilings’ and the Persistence of Business Cycles -- A Goodwin-Type Model with Cubic Investment Function -- A Goodwin-Type Model with a Piecewise Linear Investment Function.
In: Springer eBooksSummary: Business cycle theory has been one of the fastest growing fields in modern nonlinear economic dynamics. The book is centered around models of multiplier-accelerator type, emerging from Samuelson's seminal work, later developed into nonlinear formats by Hicks and Goodwin. These models left open ends, as the tools then available did not permit more systematic analysis. The present situation is different, due to the emergence of new methods also focusing global analysis. The focus on classical, causal or recursive models implies a deviation from current main stream business cycle theory, based on "rational expectations", which in view of the possibility of mathematical chaos becomes untenable. This book is a rejoinder to Puu and Sushko, Oligopoly Dynamics - Models and Tools, (Springer 2002).
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Item type Current location Call number Status Date due Barcode Item holds
E books E books PK Kelkar Library, IIT Kanpur
Available EBK5687
Total holds: 0

Aims and Scope -- Some Methods for the Global Analysis of Closed Invariant Curves in Two-Dimensional Maps -- Center Bifurcation for a Two-Dimensional Piecewise Linear Map -- Short History of the Multiplier-Accelerator Model -- Multiplier-Accelerator Models with Random Perturbations -- Non-Autonomous Business Cycle Model -- The Hicksian Model with Investment Floor and Income Ceiling -- Growth Cycles in a Modified Hicksian Business Cycle Model -- Coexistence of Attractors and Homoclinic Loops in a Kaldor-Like Business Cycle Model -- Expectations and the Multiplier-Accelerator Model -- ‘Floors’ and/or ‘Ceilings’ and the Persistence of Business Cycles -- A Goodwin-Type Model with Cubic Investment Function -- A Goodwin-Type Model with a Piecewise Linear Investment Function.

Business cycle theory has been one of the fastest growing fields in modern nonlinear economic dynamics. The book is centered around models of multiplier-accelerator type, emerging from Samuelson's seminal work, later developed into nonlinear formats by Hicks and Goodwin. These models left open ends, as the tools then available did not permit more systematic analysis. The present situation is different, due to the emergence of new methods also focusing global analysis. The focus on classical, causal or recursive models implies a deviation from current main stream business cycle theory, based on "rational expectations", which in view of the possibility of mathematical chaos becomes untenable. This book is a rejoinder to Puu and Sushko, Oligopoly Dynamics - Models and Tools, (Springer 2002).

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