As mentioned in the Introduction, Sect. 1.2, the objective of this book is twofold: to provide a personal specification of a business cycle model within the Kaldor–Kalecki framework (see Chap. 16) and to choose a chaotic specification of the Harrod model (Sportelli and Celi (Metroeconomica 62:459–493, 2011)) to prove that (1) real data can be obtained by a suitable calibration of model’s parameters and (2) the calibrated model confirms theoretical predictions (Orlando and Della Rossa (Mathematics 7:524, 2019)). In this chapter, we first explain the Domar model and the Harrod model separately, and then we describe the mathematical foundation to the Harrod’s instability principle that will be tested then in Chap. 18.
The Harrod Model
Giuseppe Orlando
;Mario Sportelli;
2021-01-01
Abstract
As mentioned in the Introduction, Sect. 1.2, the objective of this book is twofold: to provide a personal specification of a business cycle model within the Kaldor–Kalecki framework (see Chap. 16) and to choose a chaotic specification of the Harrod model (Sportelli and Celi (Metroeconomica 62:459–493, 2011)) to prove that (1) real data can be obtained by a suitable calibration of model’s parameters and (2) the calibrated model confirms theoretical predictions (Orlando and Della Rossa (Mathematics 7:524, 2019)). In this chapter, we first explain the Domar model and the Harrod model separately, and then we describe the mathematical foundation to the Harrod’s instability principle that will be tested then in Chap. 18.I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.
