eprintid: 4116 rev_number: 22 eprint_status: archive userid: 351 dir: disk0/00/00/41/16 datestamp: 2016-01-15 02:04:10 lastmod: 2021-08-27 17:14:48 status_changed: 2016-01-15 02:04:10 type: monograph metadata_visibility: show item_issues_count: 2 creators_name: Cartelier, J. creators_name: Muellers, K. creators_id: AL0551 creators_id: AL1021 title: Viability in a Keynesian Model: A Preliminary Approach ispublished: pub internal_subjects: iis_met internal_subjects: iis_mod internal_subjects: iis_sys divisions: prog_dyn abstract: The purpose of this paper is to study an elementary dynamic Keynesian model by means of the viability approach. The mathematical theory of viability allows one to raise and answer questions which cannot be solved with usual dynamic tools. It deals with the question whether for a given dynamical system, there can be found solutions which satisfy some a priori given constraints, and with the analysis of subsets of the phase space where viable evolutions, i.e., evolutions satisfying the given constraints, are possible. Equilibria are examples of such viable sets, but the viability approach is much more general then the equilibrium approach. In contrast to traditional ecodynamics where local stability and asymptotic properties of models are the heart of the matter, the viability approach is concerned with contingent evolutions over time of dynamic systems. In section 2 we describe an elementary dynamic Keynesian model. Viability questions are evoked in section 3 along with some intuitive answers, and rigorous results and developments will be found in section 4. date: 1994-09 date_type: published publisher: WP-94-095 iiasapubid: WP-94-095 price: 10 creators_browse_id: 1792 creators_browse_id: 2213 full_text_status: public monograph_type: working_paper place_of_pub: IIASA, Laxenburg, Austria pages: 19 coversheets_dirty: FALSE fp7_type: info:eu-repo/semantics/book citation: Cartelier, J. & Muellers, K. (1994). Viability in a Keynesian Model: A Preliminary Approach. IIASA Working Paper. IIASA, Laxenburg, Austria: WP-94-095 document_url: https://pure.iiasa.ac.at/id/eprint/4116/1/WP-94-095.pdf