Econometrica Vol. 40 No. 1 1972
Stochastic Implications of Orbital Asymptotic Stability of a Nonlinear Trade Cycle Model
Abstract
[The nonlinear Kaldor theory of macroeconomic business cycles is combined with a classical growth mechanism to derive a deterministic model of business cycle phenomena. Sufficient conditions for the existence, uniqueness, and orbital asymptotic stability of a limit cycle are given. It is shown that the model also exhibits stochastic stability when the deterministic variables are randomly disturbed.]
- DOI
- 10.2307/1909722
- Volume
- 40
- Issue
- 1
- Pages
- 69
- Sources
- bibtex:phds-export.bib crossref openalex