Nonlinearities, Disequilibria and Simulation: Proceedings of the Arne Ryde Symposium on Quantitative Methods in the Stabilization of Macrodynamic Systems Essays in Honour of Björn Thalberg PDF
Preview Nonlinearities, Disequilibria and Simulation: Proceedings of the Arne Ryde Symposium on Quantitative Methods in the Stabilization of Macrodynamic Systems Essays in Honour of Björn Thalberg
NONLINEARITIES, DISEQUILIBRIA AND SIMULATION Also edited by Kumaraswamy Velupillai BUSINESS CYCLES: Theories, Evidence and Analysis (with Nieis Thygesen and Stefano Zambelli) GROwrH CYCLES AND MULTISECI'ORAL ECONOMICS: The Goodwin Tradition (with Gianni Ricci) NONLINEAR AND MULTISECI'ORAL MACRODYNAMlCS Bjorn Thalberg lecturing in Lund, autumn 1989. N onlinearities, Disequilibria and Simulation Proceedings of the Arne Ryde Symposium on Quantitative Methods in the Stabilization of Macrodynamic Systems Essays in Honour of Bjorn Thalberg Edited by Kumaraswamy Velupillai Associate Director, Center for Computable Economics, Department of Economics University of California, Los Angeles M © Kumaraswamy Velupillai 1992 Softcover reprint of the hardcover 1s t edition 1992 All rights reserved. No reproduction, copy or transmission of this publication may be made without written permission. No paragraph of this publication may be reproduced, copied or transmitted save with written permission or in accordance with the provisions of the Copyright, Designs and Patents Act 1988, or under the terms of any licence permitting limited copying issued by the Copyright Licensing Agency, 90 Tottenham Court Road, London Wl P 9HE. Any person who does any unauthorised act in relation to this publication may be liable to criminal prosecution and civil claims for damages. First published 1992 by THE MACMILLAN PRESS LTD Houndmills, Basingstoke, Hampshire RG21 2XS and London Companies and representatives throughout the world ISBN 978-1-349-12229-5 ISBN 978-1-349-12227-1 (eBook) DOI 10.1007/978-1-349-12227-1 A catalogue record for this book is available from the British Library. Contents In Memoriam Arne Ryde x Notes on the Contributors xi 1 Introduction 1 Kumaraswamy Velupillai 2 Bjorn Thalberg-Teacher, Mentor and Friend 12 Kumaraswamy Velupillai 3 Reminiscences 20 Poul Nf/Jrregaard-Rasmussen and Richard M. Goodwin Part I Reconsidering Frischian Issues 4 The Wooden Horse That Wouldn't Rock: Reconsidering Frisch 27 Stefano Zambelli Discussion 55 Bj6rn Thalberg Response 56 Stefano Zambelli 5 Implicit Nonlinearities in the Economic Dynamics of 'Impulse and Propagation' 57 Kumaraswamy Velupillai Discussion 71 Hdkan J. Holm 6 Reflections on the Frisch-lohansen Tradition in the Theory of Production 74 Sven Danf/J Discussion 81 Lars-Gunnar Svensson and Rolf Fare vii viii Contents Part 11 Simulation, Asymmetries and (Optimal) Policies in Macroeconomic Models 7 A Chaotic Reformulation of Multiplier-Accelerator Models 87 Richard M. Goodwin Discussion 101 Bjorn Thalberg and Kumaraswamy Velupillai 8 Is the Norwegian Business Cycle Asymmetric? 107 Michael Bergman and Lars Jonung Discussion 126 Stefano Zambelli and Rognvaldur Hannesson Response 132 Michael Bergman and Lars Jonung 9 Stability and Stabilization of Mature Economies 134 John Cornwall Discussion 154 Helge Brink, Bjorn Hansson and Carl-Louis Sandblom Response 159 John Cornwall 10 A test of Rational Expectations and the Permanent Income Hypothesis Using Swedish Data, 1963-87 163 Curt Wells Discussion 185 Stefano Zambelli and Shu-Heng Chen Response 193 Curt Wells Part III Applied Macroeconomics: The Stage and the Scenarios 11 Growth and Adjustment in Developing Countries: A Gap Model Approach 199 Lance Taylor Contents ix Discussion 214 Richard H. Day and Kumaraswamy Velupillai 12 Unemployment in the OECD Countries 217 Fritz C. Holte Discussion 235 Giancarlo Gandolfo and Claes-Henric Siven Response 239 Fritz C. Holte 13 Some Observations on the Debate About Stability and Openness 244 Tore Thonstad Discussion 255 Bo Sandelin Part IV Analytical Frontiers: Past and Future 14 Chaos and Evolution in Economic Processes 261 Richard H. Day Discussion 276 Ester Boserup 15 Growth, Welfare and Stabilization: Our Analytical Heritage 279 Bjorn Thalberg Index of Names 291 Index of Subjects 295 In Memoriam Arne Ryde Arne Ryde was an exceptionally promising young student on the doctorate programme at the Department of Economics in Lund. He died after an automobile accident in 1968 when only 23 years old. In his memory his parents Valborg and Sven Ryde created the Arne Ryde Foundation for the advancement of research at the Department of Economics at the University of Lund. The editor and publishers wish to thank the Arne Ryde Foundation for its support in the publication of this volume. x
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