Mathematical Economics and the Dynamics of Capitalism: Goodwin's Legacy Continued

by Flaschel; Peter

• ISBN13: 9780415451451
• ISBN10: 0415451450
• Edition: 1st
• Format: Hardcover
• Copyright: 2008-07-30
• Publisher: Routledge

Summary

Richard Goodwin was a pioneer in the use of mathematical tools to understand the dynamics of capitalist economies. This volume consists of three parts which significantly extend work in the tradition of Goodwins research program.

Table of Contents

List of figures	p. xi
List of tables	p. xiv
List of contributors	p. xvi
Introduction: mathematical economics and the dynamics of capitalism	p. 1
Nonlinear macrodynamics: theory	p. 9
Coexistence of multiple business cycles in Goodwin's 1951 model	p. 11
An encompassing theory of macroeconomic growth and fluctuation	p. 24
Kaleckian investment and employment cycles in post-war industrialized economies	p. 35
A Goodwin cycle with changing regimes of industrial relations	p. 66
Varieties of capitalism: the flexicurity model	p. 76
Nonlinear macrodynamics: empirical analysis	p. 105
Goodwin cycles and the US economy, 1948-2004	p. 107
The classical growth cycle after fifteen years of new observations	p. 131
Debt-equity cycles in the twentieth century: empirical evidence and a dynamic Keynesian model	p. 145
Monetary policy rules in small open economies: a Keynesian perspective	p. 163
Semi-structural Keynes-Goodwin modeling: elaboration and calibration of a baseline theoretical framework	p. 178
Multisectoral and microfounded approaches	p. 205
Decomposition methods for analyzing intra-regional and inter-regional income distribution	p. 206
Computational explorations of vertically coupled markets	p. 218
Microfounded animal spirits and Goodwinian income distribution dynamics	p. 239
Goodwin's structural economic dynamics in the context of globalization	p. 255
Index	p. 284
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