This paper analyses a neo-Austrian growth model under a new assumption on the evolution of the extrawage consumption, which is supposed to depend on a suitable wealth index of the system. In this contest the traverse path turns out to be two fold: in the short run it exhibits an upward jump which primes a series of cyclical oscillations while in the long run it converges towards a new steady state.
Cycle-trend Dynamics in a Fixwage Neo-Austrian Model of Traverse / Franco Nardini. - STAMPA. - (2004), pp. 225-255.
Cycle-trend Dynamics in a Fixwage Neo-Austrian Model of Traverse
NARDINI, FRANCO
2004
Abstract
This paper analyses a neo-Austrian growth model under a new assumption on the evolution of the extrawage consumption, which is supposed to depend on a suitable wealth index of the system. In this contest the traverse path turns out to be two fold: in the short run it exhibits an upward jump which primes a series of cyclical oscillations while in the long run it converges towards a new steady state.File in questo prodotto:
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