A Two-regional Model of Business Cycles with Fixed Exchange Rates: A Kaldorian Approach

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概要

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• In this paper, we investigate a nonlinear macrodynamic model of business cycles which describes the dynamic interaction of two regions which are connected through inter-regional trade and inter-regional capital movement with fixed exchange rates. Our model is formulated as a five-dimensional system of nonlinear differential equations, which is a two-regional extension of the Kaldorian business cycle model. We study the local stability/instability and the condition for the existence of the cyclical fluctuation analytically, and we also present some numerical examples which support our analytical results.

• 日本地域学会の論文

著者

• Asada Toichiro

  Faculty Of Economics Chuo University

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• A Two-regional Model of Business Cycles with Fixed Exchange Rates: A Kaldorian Approach

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