Abstract
In economics there has been very scant modelling by means of partial differential equations. In business cycle modelling they, however, arise in a natural way if we put the problem studied in a spatial setting by introducing interregional trade, considering a dynamical process that evolves both in continuous space and time. This will be done in the simplest and most obvious way, i.e., by a linear import-export multiplier, as is in line with the multiplier for local expenditures already present and with the general Keynesian macroeconomic outlook.
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© 2003 Springer-Verlag Berlin Heidelberg
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Puu, T. (2003). Business Cycles: Continuous Space. In: Attractors, Bifurcations, & Chaos. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-540-24699-2_9
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DOI: https://doi.org/10.1007/978-3-540-24699-2_9
Publisher Name: Springer, Berlin, Heidelberg
Print ISBN: 978-3-642-07296-3
Online ISBN: 978-3-540-24699-2
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