Structure and cycles
Article Abstract:
A dynamic model which features a Neo-Austrian representation of production demonstrates how a simple distortion of productive capacity which disturbs the balance between production processes creates mechanisms instituting recurrent fluctuations. Even the fastest and the fullest adaptation of the structure of productive capacity cannot block the economy from initiating fluctuations. Instead, it can only make them regular.
Publication Name: Journal of Economic Behavior & Organization
Subject: Economics
ISSN: 0167-2681
Year: 1996
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Goodwin's growth cycle and the efficiency wage hypothesis
Article Abstract:
A study was conducted to determine if Richard Goodwin's nonlinear nonmonetary one-sector economic growth model holds with the efficiency wage hypothesis. The model was found to lead to a growth cycle if the effort level decreases as real wage increases. The stationary equilibrium was also found to be stable if the effort level positively depends on real wage.
Publication Name: Journal of Economic Behavior & Organization
Subject: Economics
ISSN: 0167-2681
Year: 1995
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A Hicksian multiplier-accelerator model with floor determined by capital stock
Article Abstract:
An alternative business cycle model to Hicksian multiplier-accelerator model to examine varied growth rates of actual capital stock is presented.
Publication Name: Journal of Economic Behavior & Organization
Subject: Economics
ISSN: 0167-2681
Year: 2005
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