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A Hicksian multiplier-accelerator model with floor determined by capital stock
Umeå University, Faculty of Social Sciences, Centre for Regional Science (CERUM).
Department of Economics, University of Urbino, Italy.
Institute of Mathematics, National Academy of Sciences of Ukraine, Ukraine.
2005 (English)In: Journal of Economic Behavior and Organization, ISSN 0167-2681, Vol. 56, no 3, 331-348 p.Article in journal (Refereed) Published
Abstract [en]

This article reconsiders the Hicksian multiplier-accelerator model with the “floor” related to the depreciation on actual capital stock. Through the introduction of the capital variable, a growth trend is created endogenously by the model itself, along with growth rate oscillations around it. The “ceiling” can be dispensed with altogether. As everything is growing in such a model, a variable transformation is introduced to focus relative dynamics of the income growth rate and the actual capital output ratio.

Place, publisher, year, edition, pages
2005. Vol. 56, no 3, 331-348 p.
Keyword [en]
Hicksian multiplier-accelerator model, Floor, Capital stock
National Category
URN: urn:nbn:se:umu:diva-13790DOI: 10.1016/j.jebo.2003.10.008OAI: diva2:153461
Available from: 2007-05-15 Created: 2007-05-15Bibliographically approved

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