Relaxation oscillations properties in Goodwin's business cycle model
by Anna Antonova; Svyatoslav Reznik; Michail Todorov
International Journal of Computational Economics and Econometrics (IJCEE), Vol. 3, No. 3/4, 2013

Abstract: We consider Goodwin's time delay model of the business cycle described by neutral delay differential equation with fixed investment time lag. We investigate the properties of relaxation (sawtooth) oscillations, detected experimentally by Strotz et al. (1953). We show that the shape of relaxation fluctuations (amplitude, average value of income over the period of oscillation, time of income rise and fall) depends on the initial function. We also present an analytical sawtooth solution of the delay equation obtained by the method of steps. Finally, we show the existence of irregular dynamics of income.

Online publication date: Tue, 31-Dec-2013

The full text of this article is only available to individual subscribers or to users at subscribing institutions.

 
Existing subscribers:
Go to Inderscience Online Journals to access the Full Text of this article.

Pay per view:
If you are not a subscriber and you just want to read the full contents of this article, buy online access here.

Complimentary Subscribers, Editors or Members of the Editorial Board of the International Journal of Computational Economics and Econometrics (IJCEE):
Login with your Inderscience username and password:

    Username:        Password:         

Forgotten your password?


Want to subscribe?
A subscription gives you complete access to all articles in the current issue, as well as to all articles in the previous three years (where applicable). See our Orders page to subscribe.

If you still need assistance, please email subs@inderscience.com