Optimal equilibrium for a reformulated Samuelson economical model
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Publication:6288282
arXiv1706.08298MaRDI QIDQ6288282FDOQ6288282
Authors: Fernando Ortega, Maria Philomena Barros, Grigoris I. Kalogeropoulos 
Publication date: 26 June 2017
Abstract: This paper studies the equilibrium of an extended case of the classical Samuelson's multiplier-accelerator model for national economy. This case has incorporated some kind of memory into the system. We assume that total consumption and private investment depend upon the national income values. Then, delayed difference equations of third order are employed to describe the model, while the respective solutions of third order polynomial, correspond to the typical observed business cycles of real economy. We focus on the case that the equilibrium is not unique and provide a method to obtain the optimal equilibrium.
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