Three-Sector Keynesian Model of Business Cycles
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Abstract
This Thesis is concerned with three-sector Keynesian model of business cycles, describing the
fluctuations of durable, fast and investment good sectors. In the Thesis, the Hiroki’s two-sector
Keynesian model of business cycles is modified to three-sector Keynesian model of business
cycles. The stability analysis is based on the concept of Routh-Hurwitz stability criterion. To
justify the accuracy of the results obtained a specific numerical example is demonstrated through
simulation by use of MATLAB 2021a.