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Experimenting with Dynamic Macromodels: Growth and Cycles
Paperback
Series: Lecture Notes in Economic and Mathematical Systems, Book 608
ISBN13: 9783540773962
Publisher: Springer
Published: Feb 13 2008
Pages: 265
Weight: 0.88
Height: 0.60 Width: 6.14 Depth: 9.21
Language: English
This book presents a macroeconomic dynamic model à la Solow-Swan, including the market for labor, in a discrete time structure. The model is expanded to include expenditure on R&D and public expenditure on infrastructure. For each of the three models the results are shown in time series figures, which demonstrate that even small changes in the parameters produce responses in the time behavior of the main variables: from steady growth, to regular cycles, to chaotic-like time paths.
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