Analysis of the Effects of Time Lags and Nonlinearities in Macroeconomic Models Incorporating the Government Budget Restraint

Part of the Lecture Notes in Economics and Mathematical Systems book series (LNE, volume 343)


In the last chapter we demonstrated the two basic tools for the analysis of limit cycle solutions to nonlinear differential equations, viz. the method of averaging and the method of relaxation oscillations, on some of the traditional endogenous business cycle theories. We saw there that this approach allows us to view such theories within a unified mathematical framework, and we were thereby able to make a number of simple extensions to these models. We were also able to gauge the effects of traditional countercyclical policies on the amplitude of the cycle.


Marginal Rate Money Market Output Market Stable Limit Cycle Bond Financing 
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Copyright information

© Springer-Verlag Berlin Heidelberg 1990

Authors and Affiliations

  1. 1.School of Finance and EconomicsUniversity of Technology, SydneyAustralia

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