Abstract

Richard Goodwin's Keynesian Cobweb: Theme and Variations

Richard H. Day
University of Southern California - Department of Economics

Oleg V. Pavlov
Worcester Polytechnic Institute (WPI) - Department of Social Science & Policy Studies

Journal of Macroeconomics, Vol. 24, No. 1, Winter 2002

Abstract:
Variations of Richard Goodwin's graphical model for explaining the rudiments of Keynes's real/monetary cycle theory are presented that can also be explicated graphically, but which possess more plausible dynamic properties, namely, the generic possibility of irregular, asymmetric fluctuations.

Accepted Paper Series

Date posted: August 19, 2002 ; Last revised: August 19, 2002

Suggested Citation

Day, Richard H. and Pavlov, Oleg V., Richard Goodwin's Keynesian Cobweb: Theme and Variations. Journal of Macroeconomics, Vol. 24, No. 1, Winter 2002. Available at SSRN: http://ssrn.com/abstract=306844

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Contact Information

Richard H. Day (Contact Author) University of Southern California - Department of Economics ( email ) Kaprielian Hall 318-A Los Angeles, CA 90089 United States 213-740-2432 (Phone) 213-740-8543 (Fax)
Oleg V. Pavlov Worcester Polytechnic Institute (WPI) - Department of Social Science & Policy Studies ( email ) 100 Institute Road Worcester, MA 01609 United States 508-831-5234 (Phone) 508-831-5892 (Fax) HOME PAGE: http://users.wpi.edu/~opavlov/

Abstract

Date posted: August 19, 2002 ; Last revised: August 19, 2002

Suggested Citation

Contact Information

Richard H. Day (Contact Author)

Oleg V. Pavlov