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A Disequilibrium Macrodynamic Model of Fluctuations

Velupillai, Vela K.
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2004
Keywords
Disequilibrium macrodynamics, Macroeconomic fluctuations, Non-linear macrodynamics, Hopf bifurcation, Economics
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Working Paper
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Velupillai, V.K., (2004) "A Disequilibrium Macrodynamic Model of Fluctuations" ( Working Paper No. 0081) Department of Economics, National University of Ireland, Galway.
Abstract
A nonlinear disequilibrium macrodynamic model of uctuations in the labour and product markets, mediated by variations in factor shares, is developed and the exis- tence of a periodic orbit is proved using the Hopf bifurcation theorem.
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National University of Ireland, Galway
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Attribution-NonCommercial-NoDerivs 3.0 Ireland
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Economics (Working Papers)