Analyzing dynamic models (1/2) Kingston Economic Change & Ideas. The basics.

I doubt that this will have much of an audience outside my students, but you never know! The one part of economic interest comes towards the end when I discuss why the so-called “multiplier-accelerator” model of the trade cycle, developed independently in the 30s and 40s by Hicks, Hansen and Samuelson, is in fact not a dynamic model at all.

I also have to note that my preparations for this lecture were disturbed by a family issue that took me to Sydney for about ten days, and that I had far too good a dinner the night before with, among others, the mathematician Matheus Grasselli, and I started this lecture with a very foggy head! One hour in, I think I came into my own.

I’ll continue this lecture next week (with an online talk, since formal lectures have ceased at Kingston for 2018)