Some numerical explorations of the Keynes-Metzler-Goodwin monetary growth model

Chiarella, C; Flaschel, P

Some numerical explorations of the Keynes-Metzler-Goodwin monetary growth model

Chiarella, C Flaschel, P

Permalink

Publisher:: University of Dehli
Publication Type:: Journal Article
Citation:: Indian Economic Review, 2010, 45 (1), pp. 1 - 28
Issue Date:: 2010-01

Closed Access

	Filename	Description	Size
	2009007429OK.pdf		1 MB	Adobe PDF	View/Open

Copyright Clearance Process

Recently Added
In Progress
Closed Access

This item is closed access and not available.

Full metadata record

Field	Value	Language
dc.contributor.author	Chiarella, C	en_US
dc.contributor.author	Flaschel, P	en_US
dc.date.issued	2010-01	en_US
dc.identifier.citation	Indian Economic Review, 2010, 45 (1), pp. 1 - 28	en_US
dc.identifier.issn	0019-4670	en_US
dc.identifier.uri	http://hdl.handle.net/10453/13908
dc.description.abstract	We study numerically Keynes-Metzler-Goodwin growth, modelling households, firms and government as interacting across real and financial markets. The model allows for sluggish wage / price adjustment, disequilibrium on the market for goods, equilibrium in asset markets and a dynamic government budget restraint. It is first studied in the presence of its intrinsic nonlinearities. Then we add an extrinsic nonlinearity capturing the institutional feature of downward wage rigidity. The dynamic properties of the resulting nonlinear model are studied via bifurcation diagrams, stability basins, by adding stochastic noise to aggregate demand, and by distributional characteristics of key economic quantities.	en_US
dc.publisher	University of Dehli	en_US
dc.relation.ispartof	Indian Economic Review	en_US
dc.title	Some numerical explorations of the Keynes-Metzler-Goodwin monetary growth model	en_US
dc.type	Journal Article
utslib.citation.volume	1	en_US
utslib.citation.volume	45	en_US
utslib.for	1402 Applied Economics	en_US
utslib.for	1403 Econometrics	en_US
utslib.for	1503 Business and Management	en_US
pubs.embargo.period	Not known	en_US
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/Faculty of Business
utslib.copyright.status	closed_access
pubs.consider-herdc	true	en_US
pubs.issue	1	en_US
pubs.volume	45	en_US

Abstract:

We study numerically Keynes-Metzler-Goodwin growth, modelling households, firms and government as interacting across real and financial markets. The model allows for sluggish wage / price adjustment, disequilibrium on the market for goods, equilibrium in asset markets and a dynamic government budget restraint. It is first studied in the presence of its intrinsic nonlinearities. Then we add an extrinsic nonlinearity capturing the institutional feature of downward wage rigidity. The dynamic properties of the resulting nonlinear model are studied via bifurcation diagrams, stability basins, by adding stochastic noise to aggregate demand, and by distributional characteristics of key economic quantities.

Please use this identifier to cite or link to this item:

http://hdl.handle.net/10453/13908