Time Delays and Business Cycles

LAUR Repository

Show simple item record

dc.contributor.author Dibeh, Ghassan en_US
dc.date.accessioned 2016-05-17T09:08:34Z en_US
dc.date.available 2016-05-17T09:08:34Z en_US
dc.date.copyright 2001 en_US
dc.date.issued 2016-05-17
dc.identifier.issn 0953-8259 en_US
dc.identifier.uri http://hdl.handle.net/10725/3820 en_US
dc.description.abstract This paper develops a Marxian model of the business cycle based on Hilferding's theory of disproportionality in capital accumulation in a two-sector economy. The disproportionality arises from the existence of time delays in production generated by the differential capital intensity in the two sectors. The time delays produce an asymmetric price structure that causes overproduction and crisis. The model is constructed using delay-differential equations. Numerical simulations show that the model produces an economy-wide business cycle phenomenon. The domain of the time delay parameter is investigated, and shows that the model produces a wide variety of dynamics from monotonic convergence to explosive oscillations. Moreover, the solution shows that intersectoral investment flows transmit the instability in capital accumulation and that longer time delays produce higher cycle amplitudes. en_US
dc.language.iso en en_US
dc.title Time Delays and Business Cycles en_US
dc.type Article en_US
dc.description.version Published en_US
dc.title.subtitle Hilferding's model revisited en_US
dc.author.school SOB en_US
dc.author.idnumber 199490150 en_US
dc.author.department Department of Economics (ECON) en_US
dc.description.embargo N/A en_US
dc.relation.journal Review of Political Economy en_US
dc.journal.volume 13 en_US
dc.journal.issue 3 en_US
dc.article.pages 329-341 en_US
dc.identifier.doi http://dx.doi.org/10.1080/09538250120055177 en_US
dc.identifier.ctation Dibeh, G. (2001). Time delays and business cycles: Hilferding's model revisited. Review of Political Economy, 13(3), 329-341. en_US
dc.author.email gdibeh@lau.edu.lb en_US
dc.identifier.tou http://libraries.lau.edu.lb/research/laur/terms-of-use/articles.php en_US
dc.identifier.url http://www.tandfonline.com/doi/abs/10.1080/09538250120055177 en_US

Files in this item

Files Size Format View

There are no files associated with this item.

This item appears in the following Collection(s)

Show simple item record

Search LAUR

Advanced Search


My Account