Experimenting with Dynamic Macromodels: Growth and Cycles
Feb 2008 · Lecture Notes in Economics and Mathematical Systems Book 608 · Springer Science & Business Media
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This book presents a macroeconomic dynamic model à la Solow-Swan, including the market for labor, in a discrete time structure. The model is expanded to include expenditure on R&D and public expenditure on infrastructure. For each of the three models the results are shown in time series figures, which demonstrate that even small changes in the parameters produce responses in the time behavior of the main variables: from steady growth, to regular cycles, to chaotic-like time paths.
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