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1. A Hicksian muItiplier-accelerator model with floor determined by capital stock.

Author

Puu, Tönu, Gardini, Laura, and Sushko, Irina

Subjects
*CAPITAL stock, *CAPITAL contributions, *FINANCIAL performance, *CORPORATION reserves, *CAPITAL losses, *RESERVES (Accounting)
Abstract

This article reconsiders the Hicksian multiplier-accelerator model with the "floor" related to the depreciation on actual capital stock. Through the introduction of the capital variable, a growth trend is created endogenously by the model itself, along with growth rate oscillations around it. The "ceiling" can be dispensed with altogether. As everything is growing in such a model, a variable transformation is introduced to focus relative dynamics of the income growth rate and the actual capital output ratio. [ABSTRACT FROM AUTHOR]

Published
2005
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