Global Existence of Periodic Solutions in a Delayed Kaldor-Kalecki Model

Kaddar, Abdelilah; Alaoui, Hamad Talibi

doi:10.15388/na.2009.14.4.14468

Cited by 11 publications

(3 citation statements)

References 14 publications

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“…Last but not least Kalecki (1933Kalecki ( -1939 [20] and Kaldor [19] focused on the technical progress, on the non-linearities of the investment and savings functions and on the determinants of investment decisions. This inspired a number of works: from multiple attractors and global bifurcations [6] to homoclinic tangles [1], from the global existence of periodic solutions [18] to the existence of chaotic behaviour, not for a single specific value, but within a reasonable interval for each parameter [25,26]. Shaikh [34] explains key differences between Harrodian and Keynesian theories and policies, proves the stability of the Harrodian warranted path and shows that the Keynesian paradox of thrift is transient.…”

Section: Background and Literaturementioning

confidence: 99%

An Empirical Test of Harrod’s Model

Orlando

Rossa

2021

Nonlinearities in Economics

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While Kaldor's theory strongly influenced the academic debate on business cycles, Harrod's theory inspired Solow's seminal paper "A Contribution to the Theory of Economic Growth" (1956) [36], that set the basis for modern growth theory. However, a recent re-evaluation of Harrod's theory [4, 14] challenges Solow's interpretation "which ultimately dominated the profession's view of Harrod" [14]. According to Solow, the Harrod model "implied a tendency toward progressive collapse of the economy". However this has "little to do with the problem of longrun growth as Solow understood it, but instead addressed medium-run fluctuations, the inherent instability" of economies" [14].There are several reasons why in this chapter we focus on the Harrod's model. First of all, it is because of the abovementioned influence on the foundation of modern growth theory. Secondly, the Harrod model provides a dynamic framework and some guidelines to policy-makers, in terms of supply-side policies. In fact, they should consider the combination of investment, technological change, population

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Section: Background and Literaturementioning

confidence: 99%

An Empirical Test of Harrod’s Model

Orlando

Rossa

2021

Nonlinearities in Economics

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“…Last but not least Kalecki (1933Kalecki ( -1939 [15] and Kaldor (1960) [16] focused on the technical progress, on the non-linearities of the investment and savings functions and on the determinants of investment decisions. This inspired a disparate number of works from multiple attractors and global bifurcations [17] to homoclinic tangles [18], from the global existence of periodic solutions [19] to the existence of chaotic behaviour not for a single specific value but within a reasonable interval for each parameter [20,21]. Shaikh (2009) [22] explains key differences between Harrodian and Keynesian theories and policies, proves the stability of the Harrodian warranted path and shows that the Keynesian paradox of thrift is transient.…”

Section: Literature Reviewmentioning

confidence: 99%

An Empirical Test on Harrod’s Open Economy Dynamics

Orlando

Rossa

2019

Mathematics

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This paper has the objective to empirically test Harrod's explanations of economic dynamics addressing both growth and business cycles. In particular we test Harrod's speculation that opening the economy to foreign trade could lead to a reduction of cyclical instability. The main variables determining the dynamic behaviour are wealth, savings, competitiveness and, therefore, balance of trade. The behaviour of the model under scrutiny is highly non-linear and the conclusion is that stable cycles are possible only under particular conditions. In fact, this empirical test shows a stable long-run pattern for those specific parameters.

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“…In the following years many researchers contributed to such a version of the Kaldor-Kalecki model, which has recently been referred to as a Krawiec-Szydłowski model [10]. The amendments done concerned delay and the form of investment and saving functions [9][10][11][12][13][14][15][16]:…”

Section: Introductionmentioning

confidence: 99%

Numerical Analysis of Two Coupled Kaldor-Kalecki Models with Delay

2015

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This paper is concerned with two coupled Kaldor-Kalecki models of business cycles with delays in both the gross product and the capital stock. We consider two types of investment functions that lead to different behavior of the system. We introduce the model with unidirectional coupling to investigate the influence of a global economy (like the European Union) on a local economy (like Poland). We present detailed results of numerical analysis.

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Global Existence of Periodic Solutions in a Delayed Kaldor-Kalecki Model

Cited by 11 publications

References 14 publications

An Empirical Test of Harrod’s Model

An Empirical Test of Harrod’s Model

An Empirical Test on Harrod’s Open Economy Dynamics

Numerical Analysis of Two Coupled Kaldor-Kalecki Models with Delay

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