A computational approach to Ricardo’s and Marx’s business cycle models

Research output: Working paper

Abstract

The goal of this paper is to reconstruct both Ricardo's and Marx's nonlinear dynamic models of business cycle, utilizing computational power of Wolfram Mathematica. The paper aims to replicate Ricardo's and Marx's business cycle models and attempts to extend their original ideas to account for some new stylized facts of contemporary capitalist market economies such as financialization and increasing rentiers' income and corporate offshoring phenomenon.
Original languageAmerican English
StatePublished - 2022

Keywords

  • Business cycles
  • Predator-prey model
  • Financialization
  • Rentier income
  • Corporate offshoring
  • Differential equation systems

Disciplines

  • Economics

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