2011, 1996, English, Article, Other article edition: Real and monetary cycles in models of Keynes-Wicksell type Chiarella, Carl; Flaschel, Peter

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Bookmark: https://trove.nla.gov.au/version/195967856
Published
  • Elsevier Science Bv, 2011-02-07T06:26:09Z 1996
Language
  • English

Edition details

Title
  • Real and monetary cycles in models of Keynes-Wicksell type
Author
  • Chiarella, Carl
  • Flaschel, Peter
Published
  • Elsevier Science Bv, 2011-02-07T06:26:09Z 1996
Summary
  • We formulate a descriptive dynamic macroeconomic model of the Keynes-Wicksell type which incorporates goods, labour and financial markets. The model has well specified budget constraints with respect to the economic agents (households, firms and government) within it. We introduce some standard nonlinearities into the goods and labour markets. The dynamics of the general model consist of five differential equations; we analyse two- and three-dimensional subcases to show the existence of real and monetary cycles whose interaction will determine the full dynamics. We use numerical simulation to study the dynamics of the full model and the impact of various government fiscal and monetary policies.
Language
  • English
Related Resource
Identifier
  • oai:epress.lib.uts.edu.au:10453/​13936
  • 2006014883
  • Chiarella Carl and Flaschel Peter 1996, 'Real and monetary cycles in models of Keynes-Wicksell type', Elsevier Science Bv, vol. 30, no. 3, pp. 327-351.
  • 0167-2681
  • C1UNSUBMIT
  • 327

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