Disequilibrium dynamics in a simple macroeconomic model

Böhm V (1978)
Journal of Economic Theory 17(2): 179-199.

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Journal Article | Published | English
Abstract
The dynamic behavior of a simple macroeconomic disequilibrium model is analyzed in which consumers' changes in money holdings constitute the dynamic link between any two periods. It is shown that, under constant government consumption, a constant production function (no investment), and fixed prices and wages, stationary states of Keynesian unemployment are stable whereas those of repressed inflation are globally unstable. Possibilities of unemployment and output cycles are indicated for fixed wages as well as for some very simple class of wage and price adjustment mechanisms.
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Böhm V. Disequilibrium dynamics in a simple macroeconomic model. Journal of Economic Theory. 1978;17(2):179-199.
Böhm, V. (1978). Disequilibrium dynamics in a simple macroeconomic model. Journal of Economic Theory, 17(2), 179-199.
Böhm, V. (1978). Disequilibrium dynamics in a simple macroeconomic model. Journal of Economic Theory 17, 179-199.
Böhm, V., 1978. Disequilibrium dynamics in a simple macroeconomic model. Journal of Economic Theory, 17(2), p 179-199.
V. Böhm, “Disequilibrium dynamics in a simple macroeconomic model”, Journal of Economic Theory, vol. 17, 1978, pp. 179-199.
Böhm, V.: Disequilibrium dynamics in a simple macroeconomic model. Journal of Economic Theory. 17, 179-199 (1978).
Böhm, Volker. “Disequilibrium dynamics in a simple macroeconomic model”. Journal of Economic Theory 17.2 (1978): 179-199.
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