Qualitative Dynamics and Macroeconomic Evolution in the Very Long Run

Day, Richard H., and Oleg V. Pavlov. "Qualitative Dynamics and Macroeconomic Evolution." In Cycles, Growth and Structural Change, edited by Lionello F. Punzo, 95-114: Routledge, 2001.

21 Pages Posted: 10 Jan 2024

See all articles by Richard H. Day

Richard H. Day

University of Southern California - Department of Economics

Oleg V. Pavlov

Worcester Polytechnic Institute (WPI)

Date Written: January 1, 2001

Abstract

When it is impossible to incorporate all the complex components involved, and it is therefore hopeless to represent behavior in accurate quantitative terms, it may still be possible to derive a compelling qualitative explanation of behavior. This possibility is illustrated in this chapter with the problem of explaining macroeconomic evolution. The resulting nonlinear, multiple–phase model exhibits trajectories that are qualitatively like those in the historical and archaeological records. Implications for understanding current transitions in the global economy and for development policy are suggested.

Suggested Citation

Day, Richard H. and Pavlov, Oleg V., Qualitative Dynamics and Macroeconomic Evolution in the Very Long Run (January 1, 2001). Day, Richard H., and Oleg V. Pavlov. "Qualitative Dynamics and Macroeconomic Evolution." In Cycles, Growth and Structural Change, edited by Lionello F. Punzo, 95-114: Routledge, 2001., Available at SSRN: https://ssrn.com/abstract=4668318

Richard H. Day

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 (Contact Author)

Worcester Polytechnic Institute (WPI) ( email )

100 Institute Road
Worcester, MA 01609
United States

HOME PAGE: http://https://www.wpi.edu/people/faculty/opavlov

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