A Kaleckian model of business cycle synchronization

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dc.contributor.author Dibeh, Ghassan
dc.date.accessioned 2016-05-17T10:21:35Z
dc.date.available 2016-05-17T10:21:35Z
dc.date.copyright 2005 en_US
dc.identifier.issn 0953-8259 en_US
dc.identifier.uri http://hdl.handle.net/10725/3822
dc.description.abstract A non-linear, two-country Kaleckian model of the business cycle was developed for investigating business cycle synchronization. The model includes three components: a country-specific business cycle-generating equation, a transmission mechanism and time delays in the transmission mechanism. The model constructed is a non-linear delay-differential equation system. Solutions to the model without time delays in transmission are derived using the averaging method. The solutions show that the model produces limit cycles representing business cycles. The model with time delays in transmission is then solved numerically in order to investigate the role played by the coupling strength and coupling delay in transforming otherwise independent country-specific cycles into a synchronized business cycle. The degree of synchronization of the business cycle is shown to be positively related to the coupling strength. Moreover, coupling delays above a certain threshold play a desynchronizing role. en_US
dc.language.iso en en_US
dc.title A Kaleckian model of business cycle synchronization en_US
dc.type Article en_US
dc.description.version Published 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 17 en_US
dc.journal.issue 2 en_US
dc.article.pages 253-267 en_US
dc.identifier.doi http://dx.doi.org/10.1080/09538250500067304 en_US
dc.identifier.ctation Dibeh, G. (2005). A Kaleckian model of business cycle synchronization. Review of Political Economy, 17(2), 253-267. 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/10.1080/09538250500067304 en_US

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