A two-sector Keynesian model of business cycles

公開日:2017.08.03

発行日
2017年07月
概要
In this paper, we examine the effect of sectoral interactions on business cycles in a simple Keynesian model. As a first step for introducing viewpoints of multiple sectors in the context of business cycles, we consider a dual economy in which there are only two kinds of goods: the consumption good and the investment good. By examining a two-sector Keynesian model, we intend to take a look at some phenomena induced by interactions between the consumption good sector and the investment good sector, which cannot be observed in one-sector models. We then find that the stability of equilibrium and the possibility of emergence of a periodic orbit depend upon whether the Keynesian stability condition holds or not and that the consumption good sector lags behind the investment good sector along the periodic orbit (business cycles). Also, we supplement the analysis by performing numerical simulations.
キーワード

Business cycles

Keynesian economics

Quantity adjustment

Two-sector analysis

文献等

掲載誌名・書名:

IERCU Discussion Paper, No.281

公開者・出版社:

経済研究所

種類
紀要
言語
英語
権利情報
この資料の著作権は、資料の著作者または学校法人中央大学に帰属します。著作権法が定める私的利用・引用を超える使用を希望される場合には、掲載誌発行部局へお問い合わせください。

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