Distributed Time Delay Goodwin's Models of the Business Cycle
Анотація
We consider continuously distributed time delay Goodwin's model of the business cycle. We show that the delay induced sawtooth oscillations, similar to those detected by R. H. Strotz, J. C. McAnulty, J. B. Naines, Econometrica, 21, 390–411 (1953) for Goodwin's model with fixed investment time lag, exist only for very narrow delay distribution when the variance of the delay distribution much less than the average delay.
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