Are There Goodwin Employment-Distribution Cycles? Theoretical and Empirical Evidence
Universidad Nacional, Escuela de Economía Documento FCE No. EE - 3
34 Pages Posted: 25 Jun 2008 Last revised: 11 Sep 2008
Date Written: June 23, 2008
Goodwin's predator prey model predicts cycles in the employment distribution space. After the Cambridge capital controversies this particular model can not be seen as theoretically consistent. However, evidence is provided in favour of non-linear dynamic behaviour for a sample of 67 countries, some of which have cycles similar to those predicted by the model.
Keywords: predator prey model, non-linear dynamic behavior, demand cycles
JEL Classification: E32, E19, O47
Suggested Citation: Suggested Citation