As 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 on 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.
This paper explores a theory of business cycles in which recessions and booms arise due to difficult...
A General Equilibrium model of investment is constructed in which the pay-offs of firms depend on ea...
This paper shows how cyclic dynamics of national income and emerge in the multiplier-accelerator mod...
As demonstrated by Samuelson, the interplay between the multiplier analysis and the principle of acc...
We modify Samuelsons multiplier-accelerator model to explore the influence of expectations on fluctu...
International audienceOn the occasion of the centennial of his mentor Alvin Hansen, Paul Samuelson p...
Samuelson’s linear multiplier-accelerator model of the business cycle is modified in order to explor...
Samuelson’s linear multiplier-accelerator model of the business cycle is modified in order to explor...
Abstract In this work, we reconsider the dynamics of a few versions of the classical Samuelson’s mul...
peer-reviewedThis paper extends the classical Samuelson multiplier–accelerator model for national e...
This paper revisits the standard multiplier-accelerator model, as advanced by Samuelson. While borro...
In this chapter, in Sect. 12.1 we provide a sketch of the Keynesian multiplier and the multiplier–ac...
Abstract. This paper revisits the standard multiplier-accelerator model, as advanced by Samuelson. W...
This paper studies the equilibrium of an extended case of the classical Samuelson's multiplier-accel...
In this work we derive a second-order dynamic equation which describes Samuelson\u27s multiplier-acc...
This paper explores a theory of business cycles in which recessions and booms arise due to difficult...
A General Equilibrium model of investment is constructed in which the pay-offs of firms depend on ea...
This paper shows how cyclic dynamics of national income and emerge in the multiplier-accelerator mod...
As demonstrated by Samuelson, the interplay between the multiplier analysis and the principle of acc...
We modify Samuelsons multiplier-accelerator model to explore the influence of expectations on fluctu...
International audienceOn the occasion of the centennial of his mentor Alvin Hansen, Paul Samuelson p...
Samuelson’s linear multiplier-accelerator model of the business cycle is modified in order to explor...
Samuelson’s linear multiplier-accelerator model of the business cycle is modified in order to explor...
Abstract In this work, we reconsider the dynamics of a few versions of the classical Samuelson’s mul...
peer-reviewedThis paper extends the classical Samuelson multiplier–accelerator model for national e...
This paper revisits the standard multiplier-accelerator model, as advanced by Samuelson. While borro...
In this chapter, in Sect. 12.1 we provide a sketch of the Keynesian multiplier and the multiplier–ac...
Abstract. This paper revisits the standard multiplier-accelerator model, as advanced by Samuelson. W...
This paper studies the equilibrium of an extended case of the classical Samuelson's multiplier-accel...
In this work we derive a second-order dynamic equation which describes Samuelson\u27s multiplier-acc...
This paper explores a theory of business cycles in which recessions and booms arise due to difficult...
A General Equilibrium model of investment is constructed in which the pay-offs of firms depend on ea...
This paper shows how cyclic dynamics of national income and emerge in the multiplier-accelerator mod...