Business Cycle Dynamics : Models and Tools
Softcover reprint of hardcover 1st ed. 2006
Book Details
Format
Paperback / Softback
ISBN-10
3642068790
ISBN-13
9783642068799
Edition
Softcover reprint of hardcover 1st ed. 2006
Publisher
Springer-Verlag Berlin and Heidelberg GmbH & Co. KG
Imprint
Springer-Verlag Berlin and Heidelberg GmbH & Co. K
Country of Manufacture
GB
Country of Publication
GB
Publication Date
Oct 14th, 2010
Print length
336 Pages
Product Classification:
Economic theory & philosophyEconomic theory and philosophyMacroeconomics
Ksh 16,200.00
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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.
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).
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