๐”– Bobbio Scriptorium
โœฆ   LIBER   โœฆ

Using Consumer Theory to Test Competing Business Cycle Models

โœ Scribed by Bils, Mark; Klenow, Peter J.

Book ID
121355596
Publisher
University of Chicago Press
Year
1998
Tongue
English
Weight
181 KB
Volume
106
Category
Article
ISSN
0022-3808

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This paper examines the discontinuity conditions of equilibria in singular economies. A parameterized differential equation system is used to describe business cycles. It is shown that the qualitative behavior of the system is sensitive to particular parameters and cusp catastrophes may occur.