Morishima's Nonlinear Model of the Cycle: Simplifications and Generalizations

Michio Morishima's nonlinear model of the trade cycle (Morishima, 1958) is simplified and generalized to show, by means of the Andronov-Hopf bifurcation theorem, the existence of a periodic orbit. In addition, an attempt is made to place Morishima's contribution in the broader tradition of the work of the Japanese School of Nonlinear Trade Cycle Theorists and to place this, in turn, within the context and development of the tradition of mathematical economics in early post-war Japan.peer-reviewe

Using and Producing Ideas in Computable Endogenous Growth

Using and Producing Ideas in Computable Endogenous Growth It is shown that Paul Romer\u27s suggestion to model algorithmically the use and production of ideas in an endogenous growth model is formally feasible. Such a modelling exercise imparts a natural evolutionary flavour to growth models. However, it is also shown that the policy implications are formally indeterminate in a precise and effective sense

The Foundations of Computable General EquilibriumTheory

A constructive and recursion theoretic analysis of the standard Computable General Equilibrium (CGE) model of economic theory is undertaken. It is shown, contrary to widely expressed views and textbook versions of the CGE model, that the standard CGE model is neither computable nor constructive in the strict mathematical senses

Morishima\u27s Nonlinear Model of the Cycle: Simplifications and Generalizations

Michio Morishima\u27s nonlinear model of the trade cycle (Morishima, 1958) is simplified and generalized to show, by means of the Andronov-Hopf bifurcation theorem, the existence of a periodic orbit. In addition, an attempt is made to place Morishima\u27s contribution in the broader tradition of the work of the Japanese School of Nonlinear Trade Cycle Theorists and to place this, in turn, within the context and development of the tradition of mathematical economics in early post-war Japan

The impossibility of an Effective Theory of Policy in a Complex Economy

It is shown that for a \u27complex economy\u27, characterised in terms of a formal dynamical system capable of computation universality, it is impossible to devise an effective theory of policy