| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 7154895 | Communications in Nonlinear Science and Numerical Simulation | 2018 | 21 Pages |
Abstract
The aim of this research is to analyse a Keynesian goods market closed economy by considering a continuous-time setup with fixed delays. The work compares dynamic results based on linear and nonlinear adjustment mechanisms through which the aggregate supply (production) reacts to a disequilibrium in the goods market and consumption depends on income at a preceding date. Both analytical and geometrical (stability switching curves) techniques are used to characterise the stability properties of the stationary equilibrium.
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Authors
Luca Gori, Luca Guerrini, Mauro Sodini,