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EnglishThe aim of this research is to analyse a Keynesian goods market closed economy by considering a continuous-time setup with fixed delays. The work compares dynamic results based on linear and nonlinear adjustment mechanisms through which the aggregate supply (production) reacts to a disequilibrium in the goods market and consumption depends on income at a preceding date. Both analytical and geometrical (stability switching curves) techniques are used to characterise the stability properties of the stationary equilibrium.
| Autori interni: | |
| Autori: | Gori, Luca; Guerrini, Luca; Sodini, Mauro |
| Titolo: | Disequilibrium dynamics in a Keynesian model with time delays |
| Anno del prodotto: | 2018 |
| Abstract: | The aim of this research is to analyse a Keynesian goods market closed economy by considering a continuous-time setup with fixed delays. The work compares dynamic results based on linear and nonlinear adjustment mechanisms through which the aggregate supply (production) reacts to a disequilibrium in the goods market and consumption depends on income at a preceding date. Both analytical and geometrical (stability switching curves) techniques are used to characterise the stability properties of the stationary equilibrium. |
| Digital Object Identifier (DOI): | 10.1016/j.cnsns.2017.06.014 |
| Appare nelle tipologie: | 1.1 Articolo in rivista |
File in questo prodotto:
| File | Descrizione | Tipologia | Licenza | |
|---|---|---|---|---|
| CNSNS_Post_Print.pdf | Documento in Post-print |  | Open AccessVisualizza/Apri | |
| Gori, Guerrini and Sodini 2018 CNSNS.pdf | Versione finale editoriale | NON PUBBLICO - Accesso privato/ristretto | Utenti riconosciuti Richiedi una copia |
http://hdl.handle.net/11568/868182
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