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- W2768754313 abstract "We prove that the standard discrete-time accelerator equation cannot be considered as an exact discrete analog of the continuous-time accelerator equation. This leads to fact that the standard discrete-time macroeconomic models cannot be considered as exact discretization of the corresponding continuous-time models. As a result, the equations of the continuous and standard discrete models have different solutions and can predict the different behavior of the economy. In this paper, we propose a self-consistent discrete-time description of the economic accelerators that is based on the exact finite differences. For discrete-time approach, the model equations with exact differences have the same solutions as the corresponding continuous-time models and these discrete and continuous models describe the same behavior of the economy. Using the Harrod-Domar growth model as an example, we show that equations of the continuous-time model and the suggested exact discrete model have the same solutions and these models predict the same behavior of the economy." @default.
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- W2768754313 date "2017-03-01" @default.
- W2768754313 modified "2023-09-29" @default.
- W2768754313 title "Accelerators in Macroeconomics: Comparison of Discrete and Continuous Approaches" @default.
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- W2768754313 doi "https://doi.org/10.3844/ajebasp.2017.47.55" @default.
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