Keynesian monetary growth dynamics in open economies

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dc.contributor.author Chiarella, Carl en_US
dc.contributor.author Flaschel, Peter en_US
dc.contributor.editor en_US
dc.date.accessioned 2011-02-07T06:26:05Z
dc.date.available 2011-02-07T06:26:05Z
dc.date.issued 1999 en_US
dc.identifier 2006014880 en_US
dc.identifier.citation Chiarella Carl and Flaschel Peter 1999, 'Keynesian monetary growth dynamics in open economies', Baltzer Sci Publ Bv, vol. 89, pp. 35-59. en_US
dc.identifier.issn 0254-5330 en_US
dc.identifier.other C1UNSUBMIT en_US
dc.identifier.uri http://hdl.handle.net/10453/13928
dc.description.abstract We investigate an open economy monetary growth model with sluggish price and quantity adjustments. It integrates the real dynamics of Rose's employment cycle, an inflationary dynamics of Cagan type, Metzlerian inventory dynamics and Dornbusch's exchange rate dynamics, implying eight laws of motion, two for each subdynamics. These intrinsically nonlinear 8D dynamics are asymptotically stable for low adjustment speeds of prices and expectations, give rise to Hopf bifurications as these adjustment parameters are increased and lead to cyclically explosive behavior thereafter. Two extrinsic nonlinearities are therefore added, one in capital flows and the other a kinked Phillips curve. These two nonlinearities modify the dynamics radically, limiting them to economically meaningful domains even for extreme parameter choices. en_US
dc.language en_US
dc.publisher Baltzer Sci Publ Bv en_US
dc.relation.isbasedon http://dx.doi.org/10.1023/A:1018992010740 en_US
dc.title Keynesian monetary growth dynamics in open economies en_US
dc.parent Annals Of Operations Research en_US
dc.journal.volume 89 en_US
dc.journal.number en_US
dc.publocation Bussum en_US
dc.identifier.startpage 35 en_US
dc.identifier.endpage 59 en_US
dc.cauo.name BUS.School of Finance and Economics en_US
dc.conference Verified OK en_US
dc.for 140199 en_US
dc.personcode 716350 en_US
dc.personcode 0000017722 en_US
dc.percentage 100 en_US
dc.classification.name Economic Theory not elsewhere classified en_US
dc.classification.type FOR-08 en_US
dc.edition en_US
dc.custom en_US
dc.date.activity en_US
dc.location.activity ISI:000081261500004 en_US
dc.description.keywords Expectations en_US


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