The Nonlinear Accelerator and the Persistence of Business Cycles on JSTOR

Econometrica

Description:

Econometrica publishes original articles in all branches of economics - theoretical and empirical, abstract and applied, providing wide-ranging coverage across the subject area. It promotes studies that aim at the unification of the theoretical-quantitative and the empirical-quantitative approach to economic problems and that are penetrated by constructive and rigorous thinking. It explores a unique range of topics each year - from the frontier of theoretical developments in many new and important areas, to research on current and applied economic problems, to methodologically innovative, theoretical and applied studies in econometrics.

Coverage: 1933-2014 (Vol. 1, No. 1 - Vol. 82, No. 6)

Moving Wall: 2 years (What is the moving wall?)

The "moving wall" represents the time period between the last issue available in JSTOR and the most recently published issue of a journal. Moving walls are generally represented in years. In rare instances, a publisher has elected to have a "zero" moving wall, so their current issues are available in JSTOR shortly after publication.
Note: In calculating the moving wall, the current year is not counted.
For example, if the current year is 2008 and a journal has a 5 year moving wall, articles from the year 2002 are available.

Terms Related to the Moving Wall: Fixed walls: Journals with no new volumes being added to the archive.; Absorbed: Journals that are combined with another title.; Complete: Journals that are no longer published or that have been combined with another title.

ISSN: 00129682

EISSN: 14680262

Subjects: Business & Economics, Mathematics, Science & Mathematics, Business, Economics

Collections: Arts & Sciences I Collection, Business & Economics Collection, Business I Collection, JSTOR Essential Collection, Mathematics & Statistics Collection

Abstract

By taking account of obvious and inescapable limitations on the functioning of the accelerator, we explain some of the chief characteristics of the cycle, notably its failure to die away, along with the fact that capital stock is usually either in excess or in short supply. By a succession of increasingly complex models, the nature and methods of analyzing nonlinear cycle models is developed. The roles of lags and of secular evolution are illustrated. In each case the system's equilibrium position is unstable, but there exists a stable limit cycle toward which all motions tend.

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The Nonlinear Accelerator and the Persistence of Business Cycles

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Abstract

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