Detail publikace

Neo-Keynesian and Neo-Classical Macroeconomic Models: Stability and Lyapunov Exponents

Autor: Ing. Karel Sladký CSc., Jan Kodera
prof. Ing. Miloslav Vošvrda CSc., Jan Kodera
Typ: IES Working Papers
Rok: 2006
Číslo: 10
Publikováno v: IES WP 2006/10
Místo vydání: Prague
Klíčová slova: Macroeconomic models, Keynesian and Classical model, nonlinear differential equations, linearization, asymptotical stability, Lyapunov exponents S
JEL kódy: C00, E12, E13
Citace: Kodera, J., Sladký, K., Voškrda, M. (2006). “Neo-Keynesian and Neo-Classical Macroeconomic Models: Stability and Lyapunov Exponents” IES Working Paper 10/2006, IES FSV. Charles University.
Abstrakt: The non-linear approach to economic dynamics enables us to study traditional economic models using modified formulations and different methods of solution. In this article we compare dynamical properties of Keynesian and Classical macroeconomic models. We start with an extended dynamical IS-LM neoclassical model generating behaviour of the real product, interest rate, expected inflation and the price level over time. Limiting behaviour, stability, and existence of limit cycles and other specific features of these models will be compared.
Ke stažení: WP 2006_10 Vosvrda




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