CATASTROPHE THEORY AND THE BUSINESS CYCLE
Economic InquiryPublished 1 January 1979
Hal R. Varian
Citations173
SJR quartileQ1
SJR score1.12
SNIP1.33
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Abstract
We use the approach of R. Thom's "Catastrophe Theory" to construct a generalization of Kaldor's 1940 trade cycle. The model allows for cyclic behavior which exhibits either rapid recoveries (recessions) or slow recoveries (depressions).
Keywords
Economics, Econometrics and FinanceEnergy
Pure and applied mathematicsDifferential Equations, Dynamical Systems, and Linear Algebra
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