Araújo, Ricardo Azevedo; Flaschel, Peter; Moreira, … - In: Economia : revista da ANPEC 21 (2020) 2, pp. 145-159
wage dynamics with unstable equilibrium, meaning that the integration of the Foley liquidity/profit rate cycle with the … Goodwin cycle requires state intervention to stabilize the economy. With this approach, we show that Foley’s initial insight … this case, may degenerate into a limit cycle if the growth rate of liquidity increases to a sufficient degree. To …