Finance Discipline Group
UTS Business School
University of Technology, Sydney

Working Paper Series

Title:
Towards Applied Disequilibrium Growth Theory: VII Intensive Form and Steady State Calculation in the Case of Substitution
Author(s): Carl Chiarella, Peter Flaschel, G. Groh, C. Köper & Willi Semmler
Date of publication: December 1999
Working paper number: 99
Abstract:
In this paper we consider the applied structural model of diequilibrium growth that we introduced in a previous paper. In particular we express the model in terms of intensive form variables which turn out to be governed by a set of 39D dynamic equations. We consider the model from the perspective of national accounts and also determine and analyze the model's steady state. The model allows for smooth input and output substitution (via a neoclassical production function) between its three inputs (capital, imported commodities and labor) and two outputs (domestically traded goods and exported commodities).
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Known citations:

Chiarella, C. and Flaschel, P., 1999, "Towards Applied Disequilibrium Growth Theory: II Intensive Form and Steady State Analysis of the Model", Working Paper: 94, Finance Discipline Group, University of Technology, Sydney.

Chiarella, C. and Flaschel, P., 2003, "Towards Applied Disequilibrium Growth Theory: V Housing Investment Cycles, Private Debt Accumulation and Deflation", Working Paper: 97, Finance Discipline Group, University of Technology, Sydney.

Chiarella, C., Flaschel, P., Groh, G., Koper, C. and Semmler, W., 1999, "Towards Applied Disequilibrium Growth Theory: VI Substitution, Money-Holdings, Wealth-Effects and Further Extensions", Working Paper: 98, Finance Discipline Group, University of Technology, Sydney.

Chiarella, C., Flaschel, P. and Semmler, W., 1999, "The Macrodynamics of Debt Deflation", Working Paper: 7, Center for Economic Policy Analysis, New School for Social Research.

Chiarella, C., Flaschel, P. and Zhu, P., 2003, "Towards Applied Disequilibrium Growth Theory: IV Numerical Investigations of the Core 18D Model", Working Paper: 96, Finance Discipline Group, University of Technology, Sydney.