Coupled Dynamics in the Phillips Machine Model of the Macroeconomy

Stefano Zambelli

No 1011, ASSRU Discussion Papers from ASSRU - Algorithmic Social Science Research Unit

Abstract: In this paper it is claimed that the Phillips machine is a nonlinear mechanism. Phillips (1950) presented his machine as being described with a linear differential equation. In this paper it is claimed that the machine is better described with a system of nonlinear difference.-differential equations. This system itself is approximated by a set of nonlinear differential equations. This differential equations are of the Hicks-Goodwin flexible multiplier accelerator type. Consistently with this conjecture and following Phillips’ suggestion we have presented a ‘digital’ simulation of two coupled would-be Phillips machines.

Keywords: computable economics; flexible-accelerator, coupled dynamical systems, Goodwin, Phillips machine, MONIAC (search for similar items in EconPapers)
JEL-codes: A10 B16 B41 C63 F44 (search for similar items in EconPapers)
Date: 2010
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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Related works:
Journal Article: Coupled Dynamics in a Phillips Machine Model of the Macroeconomy (2011)
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Persistent link: https://EconPapers.repec.org/RePEc:trn:utwpas:1011

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