The Harrod Model

Giuseppe Orlando, Mario Sportelli () and Fabio Della Rossa ()
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Mario Sportelli: University of Bari, Department Mathematics
Fabio Della Rossa: University of Naples “Federico II”, Department of Electrical Engineering and Information Technology

Chapter Chapter 13 in Nonlinearities in Economics, 2021, pp 177-189 from Springer

Abstract: Abstract As mentioned in the Introduction, Sect. 1.2 , the objective of this book is twofold: to provide a personal specification of a business cycle model within the Kaldor–Kalecki framework (see Chap. 16 ) and to choose a chaotic specification of the Harrod model (Sportelli and Celi (Metroeconomica 62:459–493, 2011)) to prove that (1) real data can be obtained by a suitable calibration of model’s parameters and (2) the calibrated model confirms theoretical predictions (Orlando and Della Rossa (Mathematics 7:524, 2019)). In this chapter, we first explain the Domar model and the Harrod model separately, and then we describe the mathematical foundation to the Harrod’s instability principle that will be tested then in Chap. 18 .

Keywords: Domar model; Harrod model; Harrod’s instability principle; Harrod’s knife-edge (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:spr:dymchp:978-3-030-70982-2_13

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DOI: 10.1007/978-3-030-70982-2_13

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