The Impact of Science on Economic Growth and its Cycles: The Mathematical Dynamics Determined by the Basic Macroeconomic Facts

ISBN-13: 9783540647270 / Angielski / Miękka / 1998 / 204 str.

Arvid Aulin

Opis

This work shows that the gap between theory and facts in modern macroeconomics can only be elimated by nonlinear macroeconomic dynamics with certain following characteristics.

Spis treści

The Macroeconomic Problem.- The Fundamental Laws of Science-Based Economic Growth: Canonical Formalism: Basics.- The Canonical Formalism of Macroeconomics.- Derivation of the 17 Basic Macroeconomic Facts from the Canonical Formalism: The Principle of Economy in Scientific Explanation.- Growth Paths Determined by Canonical Formalism.- The Plosser Fact and Other Growth Effects of Savings Rate.- The Kydland Facts on Leads and Lags in Business Cycles.- Correlations and Variations over the Ordinary Business Cycles.- Correlations over Anomalous Business Cycles.- The Role of Stochastic Shocks in the Business Cycle.-