Departmental Bulletin Paper Existence and uniqueness of growth cycles in post Keynesian systems


In this paper, we present a post Keynesian system in which investment is determined by the expected rate of profit and explore the existence and uniqueness of a periodic orbit (or a growth cycle) in it. We find that a periodic orbit appears if the marginal effect of the expected rate of profit on investment is strong enough and that it is unique if the speed of revision of expectation is fast enough.

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