Kaldorian assumptions and endogenous fluctuations: a note on Schinasi’s IS–LM model

Giovanni Bella (), Paolo Mattana () and Beatrice Venturi ()

International Review of Economics, 2013, vol. 60, issue 1, 81 pages

Abstract: Results on Schinasi’s (Rev Econ Stud 48:649–653, 1981 ; J Econ Theory 28:369–375, 1982 ) variant of the dynamic fixed-price IS–LM model have remained so far confined to Kaldorian type economies, namely to those economies which present a greater-than-unity marginal propensity to spend out of income. This paper shows that, in the case of a negative interest rate sensitivity of savings, stable endogenous cycles can actually emerge as equilibrium solutions of the model also in the case of non-Kaldorian type economies. Copyright Springer-Verlag Berlin Heidelberg 2013

Keywords: Dual steady state; Homoclinic bifurcation; Oscillating solutions; C61; C62; E32 (search for similar items in EconPapers)
Date: 2013
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://hdl.handle.net/10.1007/s12232-013-0176-2 (text/html)
Access to full text is restricted to subscribers.

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:spr:inrvec:v:60:y:2013:i:1:p:71-81

Ordering information: This journal article can be ordered from
http://www.springer. ... cy/journal/12232/PS2

DOI: 10.1007/s12232-013-0176-2

Access Statistics for this article

International Review of Economics is currently edited by Luigino Bruni

More articles in International Review of Economics from Springer, Happiness Economics and Interpersonal Relations (HEIRS)
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().