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Keynesian Macro Growth and Cycle Models

In: The Elements and Dynamic Systems of Economic Growth and Trade Models

Author

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  • Bjarne S. Jensen

    (University of Southern Denmark (SDU))

Abstract

This chapter embeds the Harrod multiplier-accelerator model of section “The Multiplier-Accelerator Growth Model of Harrod” into a general economic-dynamic system with the object of further analyzing stability properties of solutions (state variables, ratios) to Keynesian macro growth and cycle models. Historically, the chapter also serves as a historical background for the subsequent neoclassical growth models of Solow (Chap. 11 ). From a purely mathematical point of view, the aggregate demand-side growth models have essentially the same ratio and coordinate stability properties as dynamic supply side growth models of neoclassical kind. However, the latter has the economic potential for a proper general equilibrium model foundation.

Suggested Citation

  • Bjarne S. Jensen, 2025. "Keynesian Macro Growth and Cycle Models," Springer Books, in: The Elements and Dynamic Systems of Economic Growth and Trade Models, edition 0, chapter 0, pages 249-260, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-52493-6_10
    DOI: 10.1007/978-3-031-52493-6_10
    as

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