The Goodwin cycling of developed economies has been by us modelled in a more general way by representing the Phillips curve f(v) beyond linearity through a growing and convex function of the employment share v. Then, by means of the Lambert functions, we express in exact and explicit form the phase portrait (u,v) of the differential system in the share u(t) of production absorbed by wages, and v(t) itself.
The Goodwin cycle improved with generalized wages: phase portrait, periodic behaviour
RITELLI, DANIELE;
2007
Abstract
The Goodwin cycling of developed economies has been by us modelled in a more general way by representing the Phillips curve f(v) beyond linearity through a growing and convex function of the employment share v. Then, by means of the Lambert functions, we express in exact and explicit form the phase portrait (u,v) of the differential system in the share u(t) of production absorbed by wages, and v(t) itself.File in questo prodotto:
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