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.
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 |
I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.