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The unique limit cycle in post Keynesian theory

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  • Murakami, Hiroki

Abstract

This paper establishes not only the existence and uniqueness of a limit cycle (representing persistent growth cycles) but also the convergence of every non-equilibrium solution path (describing the state of the economy) to the unique limit cycle in post Keynesian theory.

Suggested Citation

  • Murakami, Hiroki, 2022. "The unique limit cycle in post Keynesian theory," Chaos, Solitons & Fractals, Elsevier, vol. 154(C).
    • Handle: RePEc:eee:chsofr:v:154:y:2022:i:c:s0960077921009516
    DOI: 10.1016/j.chaos.2021.111597
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    More about this item

    Keywords

    Convergence; Growth cycle; Keynesian theory; Unique limit cycle;
    All these keywords.

    JEL classification:

    • C62 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Existence and Stability Conditions of Equilibrium
    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles

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