The Goodwin’s model. Economic Cycles and Investment in Bolivia

Authors

  • Javier Aliaga Lordemann Bolivian Catholic University "San Pablo"
  • Raúl Rubín de Celis Bolivian Catholic University "San Pablo"
  • Horacio Villegas Quino Bolivian Catholic University "San Pablo"

DOI:

https://doi.org/10.35319/lajed.201115152

Keywords:

Economic cycles, Investment, Balance, Stability, Short Term, Long Term, Accelerator, Product, non - linearity, Dinamic economy, Instability

Abstract

The economic cycles in Bolivia are stable in the long term but not in the short term. Eventho the cycles-limit show that balance exists. The accelerator as the time of manufacture of new capital assets clearly depends on the perceptions of the policies of the government. If these policies allow that the time of manufacture of new capital assets is reduced or the impact of the accelerator was greater, would improve the impact of the investment on the product, having had as result stable cycles in the short term and length term.

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Author Biographies

Javier Aliaga Lordemann, Bolivian Catholic University "San Pablo"

Director of Socio-Economic Research Institute (IISEC-UCB). La Paz, Bolivia.

Raúl Rubín de Celis, Bolivian Catholic University "San Pablo"

Research Associate of Socio-Economic Research Institute (IISEC-UCB). La Paz, Bolivia.

Horacio Villegas Quino, Bolivian Catholic University "San Pablo"

Researcher of Socio-Economic Research Institute (IISEC-UCB). La Paz, Bolivia.

References

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Hodrick, Robert y Edward C. Prescott (1997). “Postwar U.S. Business Cycles: An Empirical Investigation”. Journal of Money, Credit, and Banking.

Goodwin, R. M. (1951). “The Nonlinear Accelerator and the Persistence of Business Cycles”. Econometrica, (19), 1-17.

Maravall, Agustín, y Ana del Río. 2001. “Time Aggregation and the Hodrick-Prescott Filter”. Banco de España.

Matsumoto, Akio, y Suzuki, Mami (2006). “Coexistence of Multiple Business Cycles in Goodwin’s 1951 Model”. The Institute of Economic Research. Chuo University.

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Strotz, R.H., J.C. Mcnulty y J.B. Nornal Jr. (1953). "Analysis of types of oscilations in Goodwin's Model of Business Cycles". Econometrica, (21), 330 - 411.

Published

2011-05-01

How to Cite

Aliaga Lordemann, J., Rubín de Celis, R., & Villegas Quino, H. (2011). The Goodwin’s model. Economic Cycles and Investment in Bolivia . Latin American Journal of Economic Development, 9(15), 133–166. https://doi.org/10.35319/lajed.201115152

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