A Chaotic Reformulation of Multiplier—Accelerator Models
It gives me great pleasure to join in this occasion to honour Björn Thalberg. We have known one another for over thirty years, shared an interest in economic dynamics and, in particular, in cycles. He came to Cambridge at a time when I had only recently begun lecturing there and we had a chance to meet outside the formal lecturing periods. Not only that but he sent one of his exceptional students, Kumaraswamy Velupillai, with the instruction to seek out either Nicholas Kaldor or me: happily in the end he became my student.
KeywordsFiscal Policy Strange Attractor Economic Dynamic Exogenous Shock Compensatory Policy
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