Keynesian Macro Growth and Cycle Models

Bjarne S. Jensen ()
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Bjarne S. Jensen: University of Southern Denmark (SDU)

Chapter Chapter 10 in The Elements and Dynamic Systems of Economic Growth and Trade Models, 2025, pp 249-260 from Springer

Abstract: Abstract This chapter embeds the Harrod multiplier-accelerator model of section “The Multiplier-Accelerator Growth Model of Harrod” into a general economic-dynamic system with the object of further analyzing stability properties of solutions (state variables, ratios) to Keynesian macro growth and cycle models. Historically, the chapter also serves as a historical background for the subsequent neoclassical growth models of Solow (Chap. 11 ). From a purely mathematical point of view, the aggregate demand-side growth models have essentially the same ratio and coordinate stability properties as dynamic supply side growth models of neoclassical kind. However, the latter has the economic potential for a proper general equilibrium model foundation.

Keywords: Harrod multiplier-accelerator model; Economic-dynamic system; Keynesian growth and cycle models; Stability properties; Phase portraits (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-52493-6_10

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DOI: 10.1007/978-3-031-52493-6_10

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