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Simulation Results and Discussions

In: An Artificial Wicksell—Keynes Macroeconomy

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  • Ichiro Takahashi

    (Chuo University)

Abstract

This chapter examines the stability and fluctuations of the baseline AWK economies. Section 6.1 demonstrates that extremely stable and yet diverse economies emerge in the extended long run due to the hysteresis effects of the model. Section 6.2 discusses the remarkable resilience of the baseline AWK economy despite the substantial long-run fluctuations. Section 6.3 elaborates the short-run dynamics as a preparation for the next chapter. In particular, it focuses on the interaction between real wages and behaviors of Walrasian and Keynesian labor demands.

Suggested Citation

  • Ichiro Takahashi, 2021. "Simulation Results and Discussions," Springer Books, in: An Artificial Wicksell—Keynes Macroeconomy, chapter 0, pages 93-109, Springer.
    • Handle: RePEc:spr:sprchp:978-981-16-6839-5_6
    DOI: 10.1007/978-981-16-6839-5_6
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