Jove
Visualize
Contact Us
JoVE
x logofacebook logolinkedin logoyoutube logo
ABOUT JoVE
OverviewLeadershipBlogJoVE Help Center
AUTHORS
Publishing ProcessEditorial BoardScope & PoliciesPeer ReviewFAQSubmit
LIBRARIANS
TestimonialsSubscriptionsAccessResourcesLibrary Advisory BoardFAQ
RESEARCH
JoVE JournalMethods CollectionsJoVE Encyclopedia of ExperimentsArchive
EDUCATION
JoVE CoreJoVE BusinessJoVE Science EducationJoVE Lab ManualFaculty Resource CenterFaculty Site
Terms & Conditions of Use
Privacy Policy
Policies

Related Concept Videos

Dynamic Equilibrium02:20

Dynamic Equilibrium

59.9K
A reversible chemical reaction represents a chemical process that proceeds in both forward (left to right) and reverse (right to left) directions. When the rates of the forward and reverse reactions are equal, the concentrations of the reactant and product species remain constant over time and the system is at equilibrium. A special double arrow is used to emphasize the reversible nature of the reaction. The relative concentrations of reactants and products in equilibrium systems vary greatly;...
59.9K
Alternative Sets of Equilibrium Equations01:31

Alternative Sets of Equilibrium Equations

800
When analyzing the behavior of structures, engineers often rely on the concept of equilibrium. This refers to the state where all forces and moments acting on a system balance each other, resulting in no net movement or rotation. In many cases, equilibrium can be described by a set of standard equations. However, in some situations, alternative sets of equilibrium equations must be used to describe the system's behavior accurately.
One example of such a situation can be observed in a...
800
Constraints and Statical Determinacy01:26

Constraints and Statical Determinacy

857
In structural engineering, the equilibrium of a system is not only determined by its equations of equilibrium but also with the help of constraints. Constraints refer to restrictions on the motion of a system. The proper combinations of constraints can minimize the total number of constraints needed to maintain a system in mechanical equilibrium. When this happens, the system is said to be statically determinate. For such systems, the unknown reaction supports can be estimated using equilibrium...
857
One-Degree-of-Freedom System01:24

One-Degree-of-Freedom System

675
In mechanical engineering, one-degree-of-freedom systems form the basis of a wide range of electrical and mechanical components. Using these models, engineers can predict the behavior of various parts in a larger system, which gives them insight into how different forces interact with each other.
A one-degree-of-freedom system is defined by an independent variable that determines its state and behavior. One example of a one-degree-of-freedom system is a simple harmonic oscillator, such as a...
675
Multimachine Stability01:25

Multimachine Stability

377
Multimachine stability analysis is crucial for understanding the dynamics and stability of power systems with multiple synchronous machines. The objective is to solve the swing equations for a network of M machines connected to an N-bus power system.
In analyzing the system, the nodal equations represent the relationship between bus voltages, machine voltages, and machine currents. The nodal equation is given by:
377
Parameters Affecting Nonlinear Elimination: Zero-Order Input, First-Order Absorption and Two-Compartment Model01:13

Parameters Affecting Nonlinear Elimination: Zero-Order Input, First-Order Absorption and Two-Compartment Model

190
Drugs administered through various routes can lead to nonlinear elimination, resulting in complex pharmacokinetic behaviors crucial to understanding efficacious drug dosing.
When a drug is administered through a constant intravenous infusion and eliminated via nonlinear pharmacokinetics, it follows zero-order input. For example, oral drugs undergo first-order absorption upon administration and are eliminated through nonlinear pharmacokinetics.
In the case of subcutaneously administered drugs,...
190

You might also read

Related Articles

Articles linked to this work by shared authors, journal, and citation graph.

Sort by
Same journal

Sectoral integration on an emerging stock market: a multi-scale approach.

Journal of economic interaction and coordination·2023
Same journal

Policy choices and compliance behavior in pandemic times.

Journal of economic interaction and coordination·2023
Same journal

How to design virus containment policies? A joint analysis of economic and epidemic dynamics under the COVID-19 pandemic.

Journal of economic interaction and coordination·2022
Same journal

The persistence of economic sentiment: a trip down memory lane.

Journal of economic interaction and coordination·2022
Same journal

It's worth a shot: urban density, endogenous vaccination decisions, and dynamics of infectious disease.

Journal of economic interaction and coordination·2022
Same journal

Gradual financial integration and macroeconomic fluctuations in emerging market economies: evidence from China.

Journal of economic interaction and coordination·2022

Related Experiment Video

Updated: Dec 1, 2025

The Joint Effect of Social Comparison and Social Distance on Evaluation of Intertemporal Choice Outcomes in Event-related Potential Studies
08:24

The Joint Effect of Social Comparison and Social Distance on Evaluation of Intertemporal Choice Outcomes in Event-related Potential Studies

Published on: August 25, 2023

986

Autonomous demand, multiple equilibria and unemployment dynamics.

Piero Ferri1, Fabio Tramontana2

  • 1University of Bergamo, Bergamo, Italy.

Journal of Economic Interaction and Coordination
|November 9, 2020
PubMed
Summary

This study introduces a medium-run economic growth model where demand and supply interact, influenced by consumer diversity and uncertainty. It reveals that economic growth can lead to multiple, varied equilibria, emphasizing the role of initial conditions.

Keywords:
Autonomous demandEndogenous supplyInstabilityMedium-run growthMultiple equilibriaSimulationsThe reconciliation processUnemployment

More Related Videos

An Analog Macroscopic Technique for Studying Molecular Hydrodynamic Processes in Dense Gases and Liquids
11:03

An Analog Macroscopic Technique for Studying Molecular Hydrodynamic Processes in Dense Gases and Liquids

Published on: December 4, 2017

8.8K
Measuring Delay Discounting in Humans Using an Adjusting Amount Task
07:47

Measuring Delay Discounting in Humans Using an Adjusting Amount Task

Published on: January 9, 2016

15.8K

Related Experiment Videos

Last Updated: Dec 1, 2025

The Joint Effect of Social Comparison and Social Distance on Evaluation of Intertemporal Choice Outcomes in Event-related Potential Studies
08:24

The Joint Effect of Social Comparison and Social Distance on Evaluation of Intertemporal Choice Outcomes in Event-related Potential Studies

Published on: August 25, 2023

986
An Analog Macroscopic Technique for Studying Molecular Hydrodynamic Processes in Dense Gases and Liquids
11:03

An Analog Macroscopic Technique for Studying Molecular Hydrodynamic Processes in Dense Gases and Liquids

Published on: December 4, 2017

8.8K
Measuring Delay Discounting in Humans Using an Adjusting Amount Task
07:47

Measuring Delay Discounting in Humans Using an Adjusting Amount Task

Published on: January 9, 2016

15.8K

Area of Science:

  • Economics
  • Macroeconomics
  • Economic Growth Theory

Background:

  • Traditional growth models often overlook the interplay between aggregate demand and supply.
  • The role of unemployment and consumer heterogeneity in growth dynamics requires further exploration.
  • Uncertainty's impact on economic feedback loops is a critical area in macroeconomic modeling.

Purpose of the Study:

  • To develop a medium-run economic growth model incorporating autonomous demand, aggregate demand-supply interactions, and the multifaceted role of unemployment.
  • To investigate the feedback mechanisms from supply to aggregate demand, driven by heterogeneous consumers and environmental uncertainty.
  • To analyze the implications for economic equilibria, including multiplicity and stability properties.

Main Methods:

  • Development of a medium-run growth model.
  • Integration of autonomous demand as a driving force.
  • Modeling of aggregate demand and supply interactions.
  • Inclusion of heterogeneous consumers and an uncertain environment.
  • Analysis of feedback loops from supply to aggregate demand.

Main Results:

  • The model generates a feedback from supply to aggregate demand.
  • Multiple economic equilibria can arise from the model's dynamics.
  • These equilibria exhibit varying stability properties.
  • Economic growth is characterized as a dynamic process where initial conditions and historical factors are significant.

Conclusions:

  • The model highlights the importance of consumer heterogeneity and uncertainty in shaping economic growth.
  • The existence of multiple equilibria suggests that economic outcomes are path-dependent.
  • Understanding stability properties is crucial for policy interventions aimed at promoting sustainable economic growth.