Mathematics – Dynamical Systems
Scientific paper
2012-03-05
Mathematics
Dynamical Systems
20 pages, 10 figures
Scientific paper
In this paper, we create new version of IS-LM model. The original IS-LM model
has two main deficiencies: assumptions of constant price level and of strictly
exogenous money supply. New IS-LM model eliminates these deficiencies. In the
second section, we prove the existence of relaxation oscillations in this new
IS-LM model.
Volná Barbora
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