The Non-linear Accelerator and the Persistence of Business Cycles

R. M. Goodwin

Chapter 6 in Essays in Economic Dynamics, 1982, pp 80-98 from Palgrave Macmillan

Abstract: Abstract By taking account of obvious and inescapable limitations on the functioning of the accelerator, we explain some of the chief characteristics of the cycle, notably its failure to die away, along with the fact that capital stock is usually either in excess or in short supply. By a succession of increasingly complex models, the nature and methods of analysing non-linear cycle models is developed. The roles of lags and of secular evolution are illustrated. In each case the system’s equilibrium position is unstable, but there exists a stable limit cycle toward which all motions tend.

Keywords: Equilibrium Point; Business Cycle; Capital Stock; Economic Dynamics; Stable Limit Cycle (search for similar items in EconPapers)
Date: 1982
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-05504-3_6

Ordering information: This item can be ordered from
http://www.palgrave.com/9781349055043

DOI: 10.1007/978-1-349-05504-3_6

Access Statistics for this chapter

More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().