Implicit Nonlinearities in the Economic Dynamics of ‘Impulse and Propagation’

Kumaraswamy Velupillai and Håkan J. Holm

Chapter 5 in Nonlinearities, Disequilibria and Simulation, 1992, pp 57-73 from Palgrave Macmillan

Abstract: Abstract This criticism is fallacious because it fails to distinguish properly between SOURCES OF IMPULSES and PROPAGATION MECHANISMS, a distinction stressed by Frisch (1933) in a classic paper that provided many of the technical foundations for Keynesian macroeconomic models. (Lucas and Sargent, 1981, p. 313; emphasis as in original)

Keywords: Business Cycle; Relaxation Oscillation; Economic Dynamics; European Economic Review; Money Substitute (search for similar items in EconPapers)
Date: 1992
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-12227-1_5

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DOI: 10.1007/978-1-349-12227-1_5

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