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-
- Type:
- Document
- Date Created:
- 1981
- Collection:
- System Dynamic Society Records
- Collecting Area:
- University Archives
- Collection ID:
- ua435
- Parent Record(s):
- 23d738ba88f8333bc39725f9cb5bd0b8, 4a97153f59047c298f3bcd6b15c284f5, and e8eac154b3129692f26c222dbc2c9466
- Description:
- The model in this paper is, therefore, directed towards an understanding of the mechanisms at work during the UK business cycle. Its time horizon is no greater than ten years, with the main emphasis on the next five. It is frequently argued that cycles of longer period than the business cycle exist, e.g. the 50 year long wave. It is not intended that this model should try to capture in detail the mechanisms believed to produce them. However, their role in determining the underlying trend must be recognized, and their effects incorporated exogenously, perhaps by reference “off-line” to other models designed to look at these more distant horizons.