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A non-linear Keynesian Goodwin-type endogenous model of the cycle: Bayesian evidence for the USA

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A non-linear Keynesian Goodwin-type endogenous model of the cycle: Bayesian evidence for the USA. / Mariolis, Theodore; Konstantakis, Konstantinos N.; Michaelides, Panayotis G. et al.
In: Studies in Nonlinear Dynamics and Econometrics, Vol. 23, No. 1, 20160137, 01.02.2019.

Research output: Contribution to Journal/MagazineJournal articlepeer-review

Harvard

Mariolis, T, Konstantakis, KN, Michaelides, PG & Tsionas, EG 2019, 'A non-linear Keynesian Goodwin-type endogenous model of the cycle: Bayesian evidence for the USA', Studies in Nonlinear Dynamics and Econometrics, vol. 23, no. 1, 20160137. https://doi.org/10.1515/snde-2016-0137

APA

Mariolis, T., Konstantakis, K. N., Michaelides, P. G., & Tsionas, E. G. (2019). A non-linear Keynesian Goodwin-type endogenous model of the cycle: Bayesian evidence for the USA. Studies in Nonlinear Dynamics and Econometrics, 23(1), Article 20160137. https://doi.org/10.1515/snde-2016-0137

Vancouver

Mariolis T, Konstantakis KN, Michaelides PG, Tsionas EG. A non-linear Keynesian Goodwin-type endogenous model of the cycle: Bayesian evidence for the USA. Studies in Nonlinear Dynamics and Econometrics. 2019 Feb 1;23(1):20160137. Epub 2018 Jul 3. doi: 10.1515/snde-2016-0137

Author

Mariolis, Theodore ; Konstantakis, Konstantinos N. ; Michaelides, Panayotis G. et al. / A non-linear Keynesian Goodwin-type endogenous model of the cycle : Bayesian evidence for the USA. In: Studies in Nonlinear Dynamics and Econometrics. 2019 ; Vol. 23, No. 1.

Bibtex

@article{c54ac6946072425f8211b73162cd9d52,
title = "A non-linear Keynesian Goodwin-type endogenous model of the cycle: Bayesian evidence for the USA",
abstract = "This paper incorporates the so-called Bhaduri-Marglin accumulation function in Goodwin's original growth cycle model and econometrically estimates the proposed model for the case of the US economy in the time period 1960-2012, using a modern Bayesian sequential Monte Carlo method. Based on our findings, the US economy follows an exhilarationist regime throughout our investigation period with the sole exception of an underconsumption regime for the time period 1974-1978. In general, the results suggest that the proposed approach is an appropriate vehicle for expanding and improving traditional Goodwin-type models.",
keywords = "Bayesian sequential Monte Carlo methods, Bhaduri-Marglin accumulation function, Goodwin type models, US economy",
author = "Theodore Mariolis and Konstantakis, {Konstantinos N.} and Michaelides, {Panayotis G.} and Tsionas, {Efthymios G.}",
year = "2019",
month = feb,
day = "1",
doi = "10.1515/snde-2016-0137",
language = "English",
volume = "23",
journal = "Studies in Nonlinear Dynamics and Econometrics",
issn = "1081-1826",
publisher = "Berkeley Electronic Press",
number = "1",

}

RIS

TY - JOUR

T1 - A non-linear Keynesian Goodwin-type endogenous model of the cycle

T2 - Bayesian evidence for the USA

AU - Mariolis, Theodore

AU - Konstantakis, Konstantinos N.

AU - Michaelides, Panayotis G.

AU - Tsionas, Efthymios G.

PY - 2019/2/1

Y1 - 2019/2/1

N2 - This paper incorporates the so-called Bhaduri-Marglin accumulation function in Goodwin's original growth cycle model and econometrically estimates the proposed model for the case of the US economy in the time period 1960-2012, using a modern Bayesian sequential Monte Carlo method. Based on our findings, the US economy follows an exhilarationist regime throughout our investigation period with the sole exception of an underconsumption regime for the time period 1974-1978. In general, the results suggest that the proposed approach is an appropriate vehicle for expanding and improving traditional Goodwin-type models.

AB - This paper incorporates the so-called Bhaduri-Marglin accumulation function in Goodwin's original growth cycle model and econometrically estimates the proposed model for the case of the US economy in the time period 1960-2012, using a modern Bayesian sequential Monte Carlo method. Based on our findings, the US economy follows an exhilarationist regime throughout our investigation period with the sole exception of an underconsumption regime for the time period 1974-1978. In general, the results suggest that the proposed approach is an appropriate vehicle for expanding and improving traditional Goodwin-type models.

KW - Bayesian sequential Monte Carlo methods

KW - Bhaduri-Marglin accumulation function

KW - Goodwin type models

KW - US economy

U2 - 10.1515/snde-2016-0137

DO - 10.1515/snde-2016-0137

M3 - Journal article

AN - SCOPUS:85049724215

VL - 23

JO - Studies in Nonlinear Dynamics and Econometrics

JF - Studies in Nonlinear Dynamics and Econometrics

SN - 1081-1826

IS - 1

M1 - 20160137

ER -