---

＜E-Book＞
Time Delays and Business Cycles : Hilferding's model revisited / Ghassan Dibeh, Department of Economics, Lebanese American University, PO box 36, Byblos, Lebanon
(Review of political economy ; Volume 13, Number 3)

Publisher	(London : Routledge)
Year	2001
Size	1 online resource (pages 329-341)
Authors	*Dibeh, Ghassan author
Subjects	LCSH:Economics -- History  All Subject Search LCSH:Economics -- Study and teaching  All Subject Search FREE:World Wide Web: Library information networks
Notes	Includes bibliographical references This paper develops a Marxian model of the business cycle based on Hilferding's theory of disproportionality in capital accumulation in a two-sector economy. The disproportionality arises from the existence of time delays in production generated by the differential capital intensity in the two sectors. The time delays produce an asymmetric price structure that causes overproduction and crisis. The model is constructed using delay-differential equations. Numerical simulations show that the model produces an economy-wide business cycle phenomenon. The domain of the time delay parameter is investigated, and shows that the model produces a wide variety of dynamics from monotonic convergence to explosive oscillations. Moreover, the solution shows that intersectoral investment flows transmit the instability in capital accumulation and that longer time delays produce higher cycle amplitudes"--Routledge Historical Resources website HTTP:URL=https://www.routledgehistoricalresources.com/economic-thought/journal-articles/time-delays-and-business-cycles-hilferdings-model-revisited

 Similar Items