Samuelson's multiplier-accelerator model revisited

DC FieldValueLanguage
dc.contributor.authorWesterhoff, FH
dc.date.accessioned2021-12-23T16:00:33Z-
dc.date.available2021-12-23T16:00:33Z-
dc.date.issued2006
dc.identifier.issn13504851
dc.identifier.urihttps://osnascholar.ub.uni-osnabrueck.de/handle/unios/4450-
dc.description.abstractAs demonstrated by Samuelson, the interplay between the multiplier analysis and the principle of acceleration may generate temporary business cycles. We extend Samuelson's seminal framework in the sense that investors now apply a nonlinear mix of extrapolative and regressive expectation formation rules to predict changes in national income. As it turns out, the emergence of booms and slumps may depend oil the sentiment of the investors. If they are optimistic (pessimistic), the economy performs well (badly). Moreover, the model produces Sustained and intricate fluctuations in economic activity for realistic values of the marginal propensity to consume and the capital to output ratio.
dc.language.isoen
dc.publisherROUTLEDGE JOURNALS, TAYLOR & FRANCIS LTD
dc.relation.ispartofAPPLIED ECONOMICS LETTERS
dc.subjectBusiness & Economics
dc.subjectEconomics
dc.subjectEXCHANGE-RATE EXPECTATIONS
dc.titleSamuelson's multiplier-accelerator model revisited
dc.typejournal article
dc.identifier.doi10.1080/13504850500390663
dc.identifier.isiISI:000236236100005
dc.description.volume13
dc.description.issue2
dc.description.startpage89
dc.description.endpage92
dc.contributor.orcid0000-0003-1666-4103
dc.contributor.researcheridF-2933-2015
dc.identifier.eissn14664291
dc.publisher.place2-4 PARK SQUARE, MILTON PARK, ABINGDON OX14 4RN, OXON, ENGLAND
dcterms.isPartOf.abbreviationAppl. Econ. Lett.
dcterms.oaStatusGreen Submitted
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