Citation:Velupillai, V.K., (2004) "A Disequilibrium Macrodynamic Model of Fluctuations" ( Working Paper No. 0081) Department of Economics, National University of Ireland, Galway.
Abstract:
A nonlinear disequilibrium macrodynamic model of uctuations in the labour and
product markets, mediated by variations in factor shares, is developed and the exis-
tence of a periodic orbit is proved using the Hopf bifurcation theorem.
