The nonlinear Kaldor theory of macroeconomic business cycles is combined with a classical growth mechanism to derive a deterministic model of business cycle phenomena. Sufficient conditions for the existence, uniqueness, and orbital asymptotic stability of a limit cycle are given. It is shown that the model also exhibits stochastic stability when the deterministic variables are randomly disturbed.
MLA
Kosobud, R. F., and W. D. ONeill. “Stochastic Implications of Orbital Asymptotic Stability of a Nonlinear Trade Cycle Model.” Econometrica, vol. 40, .no 1, Econometric Society, 1972, pp. 69-86, https://www.jstor.org/stable/1909722
Chicago
Kosobud, R. F., and W. D. ONeill. “Stochastic Implications of Orbital Asymptotic Stability of a Nonlinear Trade Cycle Model.” Econometrica, 40, .no 1, (Econometric Society: 1972), 69-86. https://www.jstor.org/stable/1909722
APA
Kosobud, R. F., & ONeill, W. D. (1972). Stochastic Implications of Orbital Asymptotic Stability of a Nonlinear Trade Cycle Model. Econometrica, 40(1), 69-86. https://www.jstor.org/stable/1909722
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