Business Cycles: Continuous Space

Tönu Puu
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Tönu Puu: Umeå University, Centre for Regional Science

Chapter 9 in Attractors, Bifurcations, & Chaos, 2003, pp 357-380 from Springer

Abstract: Abstract In economics there has been very scant modelling by means of partial differential equations. In business cycle modelling they, however, arise in a natural way if we put the problem studied in a spatial setting by introducing interregional trade, considering a dynamical process that evolves both in continuous space and time. This will be done in the simplest and most obvious way, i.e., by a linear import-export multiplier, as is in line with the multiplier for local expenditures already present and with the general Keynesian macroeconomic outlook.

Keywords: Business Cycle; Perturbation Parameter; Dispersive Wave; Continuous Space; Nodal Line (search for similar items in EconPapers)
Date: 2003
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DOI: 10.1007/978-3-540-24699-2_9

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