Abstract
The Goodwin cycling of developed economies has been by us modelled in a more general way by representing the Phillips curve f (v) beyond linearity through a growing and convex function of the employment share v . Then, by means of the Lambert functions, we express in exact and explicit form the phase portrait (u, v) of the differential system in the share u(t) of production absorbed by wages, and v(t) itself. Under easy assumptions it is proved that the (u, v) system: is such that all its not-constant solutions shall be periodic. After such a periodicity has been assessed, based on our previous work, an asymptotic (low-energy) expression of the period/energy function is computed, establishing a sufficient condition for its monotonicity.
Published Version
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