zbMATH — the first resource for mathematics

Geometry Search for the term Geometry in any field. Queries are case-independent.
Funct* Wildcard queries are specified by * (e.g. functions, functorial, etc.). Otherwise the search is exact.
"Topological group" Phrases (multi-words) should be set in "straight quotation marks".
au: Bourbaki & ti: Algebra Search for author and title. The and-operator & is default and can be omitted.
Chebyshev | Tschebyscheff The or-operator | allows to search for Chebyshev or Tschebyscheff.
"Quasi* map*" py: 1989 The resulting documents have publication year 1989.
so: Eur* J* Mat* Soc* cc: 14 Search for publications in a particular source with a Mathematics Subject Classification code (cc) in 14.
"Partial diff* eq*" ! elliptic The not-operator ! eliminates all results containing the word elliptic.
dt: b & au: Hilbert The document type is set to books; alternatively: j for journal articles, a for book articles.
py: 2000-2015 cc: (94A | 11T) Number ranges are accepted. Terms can be grouped within (parentheses).
la: chinese Find documents in a given language. ISO 639-1 language codes can also be used.

a & b logic and
a | b logic or
!ab logic not
abc* right wildcard
"ab c" phrase
(ab c) parentheses
any anywhere an internal document identifier
au author, editor ai internal author identifier
ti title la language
so source ab review, abstract
py publication year rv reviewer
cc MSC code ut uncontrolled term
dt document type (j: journal article; b: book; a: book article)
Time-to-build in dynamics of economic models. I: Kalecki’s model. (English) Zbl 1008.91078
Summary: We show that Kalecki’s idea of introducing the time for building investment goods into the dynamics of economic processes is still attractive, being a universal mechanism for inherent cyclic behaviour of the economy. We use modern methods of dynamical systems theory and bifurcation theory to present the classical Kalecki model and detect cyclic behaviour within it, thus gaining a deeper understanding of Kalecki’s discovery. We demonstrate that Kalecki was the precursor of the approach to economics in which the laws of macroeconomic dynamics are described by differential equations. In the present paper we consider the interrelationship between cycles and the delay time linked to the time of building investment goods.

91B62Growth models in economics
34C60Qualitative investigation and simulation of models (ODE)
91B28Finance etc. (MSC2000)
Full Text: DOI
[1] Asea, P.; Zak, P. J.: Time-to-build and cycles. J. econ. Dyn. control 23, 1155-1175 (1999) · Zbl 1016.91068
[2] El’sgol’ts, L. E.: Introduction to the theory of differential equations with deviating argument. (1966)
[3] Frisch, R.; Holme, H.: The characteristic solution of a mixed difference and differential equation occurring in economic dynamics. Econometrica 3, 225-239 (1935) · Zbl 61.1326.05
[4] Hayes, N.: Roots of transcendental equation associated with certain difference equation. J. London math. Soc. 25, 226-232 (1950) · Zbl 0038.24102
[5] James, R. W.; Beltz, M. H.: The significance of characteristic solutions of mixed difference and differential equations. Econometrica 6, 326-343 (1938)
[6] Kalecki, M.: A macrodynamic theory of business cycles. Econometrica 3, 327-344 (1935) · Zbl 61.1326.06
[7] Kalecki, M.: J.osiatynski capitalism works. Capitalism works 1 (1973)
[8] Krawiec, A.; Szydlowski, M.: The kaldor--kalecki business cycle model. Ann. oper. Res. 89, 89-100 (1999) · Zbl 0939.91094
[9] Szydlowski, M.; Krawiec, A.: The Hopf bifurcation in the klador--kalecki model. W: issues in computational economics and finance, 391-396 (2000)
[10] Tinbergen, J.: Ein schiffbauzyklus?. Weltwirtschaftliches arch. 34, 152-164 (1931)
[11] Zak, P. J.: Kaleckian lags in general equilibrium. Rev. political economy 11, 321-330 (1999)
[12] Zak PJ, Tampubolon L, Young D. Is time-to-build model empirically viable? In: Greenblatt S, editor. Schumpeterian models of economic fluctuations. Amsterdam: North-Holland; forthcoming