Business Cycles Dynamics

by Puu, Tonu; Sushko, Iryna

• ISBN13: 9783540321675
• ISBN10: 3540321675
• Format: Hardcover
• Copyright: 2006-07-30
• Publisher: Springer Verlag

Summary

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).

Table of Contents

Aims and Scope
Tönu Puu	1	(6)
1 Some Methods for the Global Analysis of Closed Invariant Curves in Two-Dimensional Maps
Anna Agliari, Gian-Italo Bischi and Laura Gardini	7	(42)
2 Center Bifurcation for a Two-Dimensional Piecewise Linear Map
Iryna Sushko and Laura Gardini	49	(30)
3 Short History of the Multiplier-Accelerator Model
Tönu Puu	79	(34)
4 Multiplier-Accelerator Models with Random Perturbations
Volker Böhm	113	(30)
5 Non-Autonomous Business Cycle Model
José S. Cánovas Peña and Manuel Ruiz Marin	143	(36)
6 The Hicksian Model with Investment Floor and Income Ceiling
Laura Gardini, Tönu Puu and Iryna Sushko	179	(14)
7 Growth Cycles in a Modified Hicksian Business Cycle Model
Tönu Puu	193	(30)
8 Coexistence of Attractors and Homoclinic Loops in a Kaldor-Like Business Cycle Model
Anna Agliari and Roberto Dieci	223	(32)
9 Expectations and the Multiplier-Accelerator Model
Marji Lines and Frank Westerhoff	255	(22)
10 'Floors' and/or 'Ceilings' and the Persistence of Business Cycles
Serena Sordi	277	(22)
11 A Goodwin-Type Model with Cubic Investment Function
Iryna Sushko, Tönu Puu and Laura Gardini	299	(18)
12 A Goodwin-Type Model with a Piecewise Linear Investment Function
Laura Gardini, Tönu Puu and Iryna Sushko	317	(18)
List of Contributors	335