A discrete‐time model of a closed economy is employed in order to introduce the whole dynamics of stock adjustments in the IS‐LM diagram. Discrete‐time modeling allows us to represent the traverse process from the initial stationary state equilibrium to the new one by means of a family of intermediary IS(t) and LM(t) curves intersecting at each t to determine the appropriate short run equilibrium. Sufficient conditions for the dynamic process to be non‐cyclical are derived under plausible assumptions. Two appendices provide the stability analysis and a numerical simulation of the model used. Copyright © 1989, Wiley Blackwell. All rights reserved

Boitani, A., Christodoulakis, N., A NOTE ON IS‐LM AND STOCK ADJUSTMENT PROCESSES, <<METROECONOMICA>>, 1989; 40 (1): 67-85. [doi:10.1111/j.1467-999X.1989.tb00442.x] [http://hdl.handle.net/10807/168831]

A NOTE ON IS‐LM AND STOCK ADJUSTMENT PROCESSES

Boitani, A.
Primo
;
1989

Abstract

A discrete‐time model of a closed economy is employed in order to introduce the whole dynamics of stock adjustments in the IS‐LM diagram. Discrete‐time modeling allows us to represent the traverse process from the initial stationary state equilibrium to the new one by means of a family of intermediary IS(t) and LM(t) curves intersecting at each t to determine the appropriate short run equilibrium. Sufficient conditions for the dynamic process to be non‐cyclical are derived under plausible assumptions. Two appendices provide the stability analysis and a numerical simulation of the model used. Copyright © 1989, Wiley Blackwell. All rights reserved
Inglese
Boitani, A., Christodoulakis, N., A NOTE ON IS‐LM AND STOCK ADJUSTMENT PROCESSES, <<METROECONOMICA>>, 1989; 40 (1): 67-85. [doi:10.1111/j.1467-999X.1989.tb00442.x] [http://hdl.handle.net/10807/168831]
File in questo prodotto:
Non ci sono file associati a questo prodotto.

I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.

Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/10807/168831
Citazioni
  • ???jsp.display-item.citation.pmc??? ND
  • Scopus 0
  • ???jsp.display-item.citation.isi??? ND
social impact