%0 Journal Article
%T On the Application of the Laplace Transform in the Study of Phillips-Type Stabilization Policy
%A Satoru Kageyama
%J Theoretical Economics Letters
%P 691-696
%@ 2162-2086
%D 2015
%I Scientific Research Publishing
%R 10.4236/tel.2015.56080
%X This paper provides a
reformulation of PhillipsĄ¯s multiplier-accelerator model with stabilization
policy in terms of the Laplace transform. Applying the Laplace transform, the
differential equations of the economy are transformed into the algebraic ones
on a complex variable. The transfer functions of economic variables are defined
by these algebraic equations. With this representation, we show the effects of
Phillips-type policy on equilibrium level and derive the necessary and sufficient
condition for asymptotic stability.
%K Stabilization Policy
%K Multiplier-Accelerator Policy
%K Transfer Function
%K Laplace Transform
%U http://www.scirp.org/journal/PaperInformation.aspx?PaperID=61689