We investigate the dynamics of an integrated Keynesian disequilibrium
model of monetary growth that allows for a variety of labor-market
and employment-adjustment processes. The structure of the model is
naturally nonlinear, i.e., no extrinsic nonlinear economic
behavioral relationships are imposed at first. The dynamics of the
model are nine-dimensional and are investigated analytically by
considering appropriate subdynamics. The model generates limit cycles
(via Hopf bifurcations) and more
complex dynamic behavior (when a
natural kink in the money-wage Phillips curve is taken into
account). It exhibits hysteresis effects with respect to long-run
unemployment as well as growth and implies the occurrence of steady-state
depressions in particular.