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Goodwin Model

Goodwin Model:This is a basic version of the Goodwin Model based on Kaoru Yamagushi (2013), Money and Macroeconomic Dynamics, Chapter 4.5 (link)
Equilibrium conditions:
  • Labor Supply = 100
Devation from the equilibrium conditions generates growth cycles.

Economics Macroeconomics Goodwin Growth

  • 6 years 11 months ago