Dynamic analysis of policy lag in a Keynes–Goodwin model: Stability, instability, cycles and chaos
Dynamic analysis of policy lag in a Keynes–Goodwin model: Stability, instability, cycles and chaos
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DOI：
10.1016/j.jebo.2004.10.014
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发表时间：
2007-03
影响因子：
2.2
通讯作者：
Hiroyuki Yoshida;Toichiro Asada
中科院分区：
文献类型：
--
作者：
Hiroyuki Yoshida;Toichiro Asada
本文在凯恩斯-古德温增长周期模型的分析框架下，考察了政府稳定政策对经济系统动态行为的影响。特别是，我们研究了政策滞后对宏观经济稳定的影响分析和数字。结果表明，政策滞后的增加会导致系统的失稳，在一定的参数范围内会出现周期性行为和混沌运动。
In this paper, we investigate the impact of government's stabilization policy on the dynamic behavior of the economic system in an analytical framework of a Keynes–Goodwin model of the growth cycle. In particular, we study the effects of the policy lag on macroeconomic stability analytically and numerically. It is shown that the increase of the policy lag contributes to destabilize the system, and cyclical behavior and chaotic motion emerge in some ranges of the parameter values.