Nonlinear Dynamics and Unemployment Theory

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P. Lang, 1994 - Business cycles - 226 pages
This book attempts to integrate two lines of research. It joins the tradition of nonlinear macrodynamic models of cyclical growth, in particular the Goodwin/Kaldor/Phillips-type models of persistent fluctuations and limit cycles. Capital deepening and capital widening investment is introduced into models of cyclical growth. This approach is combined with recent neo-Keynesian analysis of wage-price formation and unemployment theory. Unemployment is decomposed in terms of demand deficiencies, job shortages, and the impact of capital-labor substitution. In this way a dynamic analysis of unemployment in terms of Classical, Keynesian and technological elements is obtained. It is shown that different components of unemployment can display their own cyclical frequencies and patterns. In this way the typical long and short term cyclical behavior of unemployment is simulated by an integrated nonlinear model of persistent growth cycles.

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Interaction of long and mediumterm employment cycles
Employment cycles in a fixedcoefficients twosector model

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About the author (1994)

The Author: Boe Thio was born in Amsterdam, the Netherlands, in 1948. He studied in mathematical economics/econometrics. He is currently working in the field of macroeconomics at the Faculty of Economics of the University of Amsterdam, where he completed a doctoral dissertation.

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