Business Cycle Dynamics

1. Front Matter

   Pages I-VIII

   PDF

2. Aims and Scope

   • Tönu Puu

   Pages 1-6

3. Some Methods for the Global Analysis of Closed Invariant Curves in Two-Dimensional Maps

   • Anna Agliari, Gian-Italo Bischi, Laura Gardini

   Pages 7-47

4. Center Bifurcation for a Two-Dimensional Piecewise Linear Map

   • Iryna Sushko, Laura Gardini

   Pages 49-78

5. Short History of the Multiplier-Accelerator Model

   • Tönu Puu

   Pages 79-112

6. Multiplier-Accelerator Models with Random Perturbations

   • Volker Böhm

   Pages 113-142

7. Non-Autonomous Business Cycle Model

   • Jose S. Cánovas Peña, Manuel Ruiz Marín

   Pages 143-178

8. The Hicksian Model with Investment Floor and Income Ceiling

   • Laura Gardini, Tönu Puu, Iryna Sushko

   Pages 179-191

9. Growth Cycles in a Modified Hicksian Business Cycle Model

   • Tönu Pun

   Pages 193-222

10. Coexistence of Attractors and Homoclinic Loops in a Kaldor-Like Business Cycle Model

    • Anna Agliari, Roberto Died

    Pages 223-254

11. Expectations and the Multiplier-Accelerator Model

    • Marji Lines, Frank Westerhoff

    Pages 255-276

12. ‘Floors’ and/or ‘Ceilings’ and the Persistence of Business Cycles

    • Serena Sordi

    Pages 277-298

13. A Goodwin-Type Model with Cubic Investment Function

    • Iryna Sushko, Tönu Puu, Laura Gardini

    Pages 299-316

14. A Goodwin-Type Model with a Piecewise Linear Investment Function

    • Laura Gardini, Tönu Puu, Iryna Sushko

    Pages 317-333

15. Back Matter

    Pages 335-336

    PDF

Business cycle theory has been one of the fastest growing fields in modern nonlinear economic dynamics. The book is centered around models of multiplier-accelerator type, emerging from Samuelson's seminal work, later developed into nonlinear formats by Hicks and Goodwin. These models left open ends, as the tools then available did not permit more systematic analysis. The present situation is different, due to the emergence of new methods also focusing global analysis. The focus on classical, causal or recursive models implies a deviation from current main stream business cycle theory, based on "rational expectations", which in view of the possibility of mathematical chaos becomes untenable. This book is a rejoinder to Puu and Sushko, Oligopoly Dynamics - Models and Tools, (Springer 2002).

• Business Cycle Models
• Hicksian Floor and Ceiling
• Multiplier-Accelerator Models
• Non-linear Dynamical Systems
• Oligopol
• bifurcation
• calculus
• dynamics
• economic dynamics

• CERUM, Umeå University, Umeå, Sweden

  Tönu Puu

• Institute of Mathematics, National Academy of Sciences of Ukraine, Kiev, Ukraine

  Iryna Sushko

Policies and ethics