Original title: Stabillity and Lyapunov exponents in Keynesian and Classical macroeconomic models
Translated title: Stabilita a Ljapunovovy exponenty v keynesianskych a klasickych makroekonomickych modelech
Authors: Kodera, Jan ; Sladký, Karel ; Vošvrda, Miloslav
Document type: Papers
Conference/Event: Mathematical Methods in Economics 2005 /23./, Hradec Králové (CZ), 2005-09-14 / 2005-09-16
Year: 2005
Language: eng
Abstract: [eng] [cze]
In this article we compare dynamical properties of Keynesian and Classical macroeconomic models. We start with an extended dynamical IS-LM neoclassical model generating behaviour of the real product, interest rate, expected inflation and the price level over time. Limiting behaviour, stability, existence of limit cycles and other specific features of these models will be compared. V praci jsou porovnavany dynamicke vlastnosti keynesianskych a klasickych makroekonomickych modelu. Nejprve jsou vysetrovany vlastnosti rozsireneho IS-LM neoklasickeho modelu zejmena s ohledem na chovani celkoveho produktu, urokove miry, ocekavane inflace a cenove hladiny. Dale se zkoumaji a porovnavaji specificke rysy a asymptoticke chovani techto modelu, zejmena jejich stabilita a existence limitnich cyklu.
Keywords: Keynesian and Classical models; macroeconomic models; nonlinear differential equations
Project no.: CEZ:AV0Z10750506 (CEP), IAA7075202 (CEP), GD402/03/H057 (CEP)
Funding provider: GA AV ČR, GA ČR
Host item entry: Proceedings of the 23rd International Conference Mathematical Methods in Economics 2005

Institution: Institute of Information Theory and Automation AS ČR (web)
Document availability information: Fulltext is available at the institute of the Academy of Sciences.
Original record: http://hdl.handle.net/11104/0131494

Permalink: http://www.nusl.cz/ntk/nusl-35082


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