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• W1988763058 abstract "Perturbation analysis is used to perform local comparative dynamics of a nonlinear macroeconomic model. As illustrations, interim and asymptotic behavior of a simple macroeconomic model is studied under money and bond financing of the government budget deficit, and dynamic implications of some policy reaction functions are examined, such as an expansionary fiscal policy accompanied by an accommodating monetary policy. The balanced budget along a reference time path is shown to eliminate effects of the price variation from the perturbed dynamics. Behavior of the perturbed dynamics is shown to be qualitatively different depending on whether the inflationary expectations are fully or only partially reflected on the expectations augmented excess demand mechanism for inflation." @default.
• W1988763058 created "2016-06-24" @default.
• W1988763058 creator A5072709200 @default.
• W1988763058 date "1979-02-01" @default.
• W1988763058 modified "2023-09-27" @default.
• W1988763058 title "Perturbation and robustness analysis of a closed macroeconomic model" @default.
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• W1988763058 doi "https://doi.org/10.1016/s0165-1889(79)80003-2" @default.
• W1988763058 hasPublicationYear "1979" @default.
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