Nonlinear Phenomena in Complex Systems, 2000, Vol.3, No.2, pp.153--170

NONLINEAR PHENOMENA IN COMPLEX SYSTEMS
An Interdisciplinary Journal

2000, Volume 3, Number 2, pp.153--170

Reestablishing Equilibrium Paths in a Neo-Austrian Model: Analysis of Transitory Regimes.
Claude Froeschlé and Elena Lega

Using a neo-austrian representation of production processes we focus on the methods of analysis of the dynamical evolution of the system. We study the effects of a technological change starting from the classical approach of static comparison of steady states. We then study the shock directly running numerical simulations and analyzing the variation with time of the economic observables. Finally, in order to clarify and simplify the analysis, we introduce a different method of analysis which consists in considering a goal fixed by a social planner and in looking at the economical coherence of the time evolution of some economic key variables or control parameters. We claim that this method gives results easier to understand than the direct one and therefore can be used for the study of transitory paths as a guideline for a fruitful use of the direct analysis of numerical simulations.

Full text: Acrobat PDF (768KB) PostScript (6171KB) PostScript.gz (817KB)