Taylor, L. 2012. Growth cycles, asset prices and finance. Metroeconomica 63, 1: 40-63 Veneziani, R. and Mohun, S. 2006. Structural stability and Goodwin’s growth cycle, Structural Change and Economic Dynamics, 17, pp. 437—451. Volterra, V. 1926. Variazioni e fluttuazioni del numero d’individui in specie animali conviventi, Mem. Accademia die Lincei, Roma, 2, 31--113 Van Lear, W. 1999. Profitability in business cycle theory and forecasting. Review of Radical Political Economics, 31, 46–60. Appendix A.0 Hurwitz stability conditions for a three-dimensional system Given a three dimensional Jacobian of the form, The characteristic equation of this system is: Where sum of all principal second-order minors of For this system to be stable, the following must hold: > 0 A.1 Stability analysis for Minsky model with reserve army effect The model is comprised of equations (3), (4) and (5), reproduced here for ease of exposition. (3) (4) (5) The non-zero steady of the system occurs where,
Taylor, L. 2012. Growth cycles, asset prices and finance. Metroeconomica 63, 1: 40-63 Veneziani, R. and Mohun, S. 2006. Structural stability and Goodwin’s growth cycle, Structural Change and Economic Dynamics, 17, pp. 437—451. Volterra, V. 1926. Variazioni e fluttuazioni del numero d’individui in specie animali conviventi, Mem. Accademia die Lincei, Roma, 2, 31--113 Van Lear, W. 1999. Profitability in business cycle theory and forecasting. Review of Radical Political Economics, 31, 46–60. Appendix A.0 Hurwitz stability conditions for a three-dimensional system Given a three dimensional Jacobian of the form, The characteristic equation of this system is: Where sum of all principal second-order minors of For this system to be stable, the following must hold: > 0 A.1 Stability analysis for Minsky model with reserve army effect The model is comprised of equations (3), (4) and (5), reproduced here for ease of exposition. (3) (4) (5) The non-zero steady of the system occurs where,
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