caa a22 4500 475797949 CHVBK 20180406123729.0 cr unu---uuuuu 170329e20000601xx s 000 0 eng 10.1007/BF01227450 doi (NATIONALLICENCE)springer-10.1007/BF01227450 Sportelli Mario Dipartimento di Scienze Economiche, Università degli Studi di Bari, Via C. Rosalba, 53, I-70124, Bari, Italy aut Dynamic complexity in a Keynesian growth-cycle model involving Harrod's instability [Elektronische Daten] [Mario Sportelli] This paper develops a Keynesian macrodynamic model, where some recent reinterpretations of Harrod's dynamics are embodied. Its main purpose is to prove that Harrod's "instability principle” may give rise to a chaotic motion (specifically a Šil'nikov scenario) around two equilibrium points: a steady-state unstable equilibrium, whose value depends on parameters defining the technical-progress dynamics, and a stationary state of zero growth. Furthermore, since it allows for a variable growth rate of labor productivity and assigns a key role to expectations, this model comes closer to modern theories of economic growth and endogenous business cycle. Springer-Verlag, 2000 economic dynamics nationallicence chaotic fluctuations nationallicence business cycle nationallicence Harrod's dynamics nationallicence E12 nationallicence E32 nationallicence C62 nationallicence Journal of Economics Springer-Verlag 71/2(2000-06-01), 167-198 0931-8658 71:2<167 2000 71 712 https://doi.org/10.1007/BF01227450 text/html Onlinezugriff via DOI 1 research-article jats NATIONALLICENCE 856 40 https://doi.org/10.1007/BF01227450 text/html Onlinezugriff via DOI NATIONALLICENCE 100 1- Sportelli Mario Dipartimento di Scienze Economiche, Università degli Studi di Bari, Via C. Rosalba, 53, I-70124, Bari, Italy aut NATIONALLICENCE 773 0- Journal of Economics Springer-Verlag 71/2(2000-06-01), 167-198 0931-8658 71:2<167 2000 71 712 Metadata rights reserved Springer special CC-BY-NC licence nationallicence BK010053 XK010053 XK010000 NATIONALLICENCE NATIONALLICENCE NL-springer