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- W2008156659 abstract "Metzler's model is an important contribution to our understanding of the dynamics of business cycles. In his model, the production of consumption goods depends on expected future sales. However, Metzler assumes that producers are homogeneous and follow a simple expectation formation rule. Taking into account that in reality producers might not only follow several expectation formation rules, but might also even switch between them, we reformulate Metzler's original model. As it turns out endogenous business cycles may emerge within our model, i.e. changes in production and inventory are (quasi-)periodic for certain parameter combinations." @default.
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- W2008156659 date "2009-05-01" @default.
- W2008156659 modified "2023-10-05" @default.
- W2008156659 title "A Metzlerian business cycle model with nonlinear heterogeneous expectations" @default.
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- W2008156659 doi "https://doi.org/10.1016/j.econmod.2009.01.015" @default.
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