An endogenous Goodwin--Keynes business cycle model: evidence for Germany (1991--2007)

Konstantinos Konstantakis, Panayotis Michaelides and Theodore Mariolis ()

Applied Economics Letters, 2014, vol. 21, issue 7, 481-486

Abstract: This article studies business cycles with the use of a novel Goodwin--Keynes type model. Based on its derived equations of motion and dynamic properties, we estimate the proposed model for the case of the German economy, the locomotive of the EMU, in the period 1991 to 2007, using relevant econometric techniques. The empirical estimation of the proposed model is very satisfactory, in contrast to previous efforts to empirically implement the original Goodwin model.

Date: 2014
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Working Paper: An endogenous Goodwin-Keynes business cycle model: Evidence for Germany (1991-2007) (2014)
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DOI: 10.1080/13504851.2013.868581

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