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A Fresh Look at Traditional Cycle Models

Richard M. Goodwin

in Chaotic Economic Dynamics

Published in print:
1990
Published Online:
November 2003
ISBN:
9780198283355
eISBN:
9780191596315
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198283350.003.0009
Subject:
Economics and Finance, Macro- and Monetary Economics

Takes a new look, in the light of advances in chaotic dynamics, at the archetypal cycle models by Hansen–Samuelson and Lundberg–Metzler. The Metzler model, which produces simple harmonic motion, is ... More


Dynamical Control of Economic Waves by Fiscal Policy

Richard M. Goodwin

in Chaotic Economic Dynamics

Published in print:
1990
Published Online:
November 2003
ISBN:
9780198283355
eISBN:
9780191596315
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198283350.003.0008
Subject:
Economics and Finance, Macro- and Monetary Economics

The control variable in the previous chapter is interpreted here as public net income‐generating expenditure. In the absence of compensatory policy, the model of the previous chapter results in a ... More


Irregular Waves of Growth from Structural Innovation

Richard M. Goodwin

in Chaotic Economic Dynamics

Published in print:
1990
Published Online:
November 2003
ISBN:
9780198283355
eISBN:
9780191596315
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198283350.003.0007
Subject:
Economics and Finance, Macro- and Monetary Economics

Seeks to fuse the insights of Schumpeter and Keynes with the argument that market conditions force unrelated innovatory investment decisions to march in step. Aggregate demand matters, therefore, and ... More


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