Lecture Notes in Economics and Mathematical Systems

Experimenting with Dynamic Macromodels

Growth and Cycles

Authors: Nicola, PierCarlo

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About this book

This book presents a macroeconomic dynamic model à la Solow-Swan, including the market for labour, in a discrete time structure. Labour supply is modelled as a reversed S curve (derived in the appendix). The models are expanded to include expenditure on R&D (thus endogenous technical progress), and public expenditure on infrastructures.

For each of the three models, numerical simulations are implemented in MAPLE, and the results are shown in time series figures, which make it easy to detect that even small changes in the parameters produce responses in the time behaviour of the main variables: from steady growth, to regular cycles, to chaotic-like time paths.

The simulations show that cycles do not promote material welfare, as measured by total undiscounted consumption along the time horizon, and that the comparative action of R&D versus public expenditure is strictly linked to the values assigned to the parameters.

Table of contents (13 chapters)

Buy this book

eBook $119.00
price for USA (gross)
  • ISBN 978-3-540-77397-9
  • Digitally watermarked, DRM-free
  • Included format: PDF
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Softcover $159.00
price for USA
  • ISBN 978-3-540-77396-2
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
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Bibliographic Information

Bibliographic Information
Book Title
Experimenting with Dynamic Macromodels
Book Subtitle
Growth and Cycles
Authors
Series Title
Lecture Notes in Economics and Mathematical Systems
Series Volume
608
Copyright
2008
Publisher
Springer-Verlag Berlin Heidelberg
Copyright Holder
Springer-Verlag Berlin Heidelberg
eBook ISBN
978-3-540-77397-9
DOI
10.1007/978-3-540-77397-9
Softcover ISBN
978-3-540-77396-2
Series ISSN
0075-8442
Edition Number
1
Number of Pages
XIV, 265
Topics