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Start Over Author "Gardini, L." Journal journal of economic behavior & organization
2 results on '"Gardini, L."'

2. Investment confidence, corporate debt and income fluctuations

Author

Gatti, D. Delli, Gallegati, M., and Gardini, L.

Subjects
Macroeconomics -- Models, Keynesian economics -- Models, Corporations -- Finance, Business, Economics
Abstract

A macroeconomic model of a closed economy is derived to develop business cycle theory under conditions of bounded periodicity and deterministic chaos. The model, whose behavior equations are based on Keynesian concepts, is employed to look at how dynamic paths of income and corporate debt are generated. The results showed that, depending on a society's likelihood to invest, such paths can either converge to their steady-state values, show chaos or trigger a financial crisis.

Published
1993

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