Modeling economic instability: a history of early macroeconomics
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| Main Authors: | , |
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| Format: | Book |
| Language: | English |
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Cham
Springer
[2022]
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| Series: | Springer studies in the history of economic thought
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| Subjects: | |
| Online Access: | Inhaltsverzeichnis |
| Physical Description: | xvi, 243 Seiten Diagramme |
| ISBN: | 9783030903091 |
| ISSN: | 2662-6098 |
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Record in the Search Index
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| adam_text | Contents 1 Introduction ............................................................................................... References ................................................................................................... 1 6 2 Looking for Dynamic Economics: Tinbergen’s Early Breakthrough............................................................................................. 2.1 Introduction ........................................................................................ 2.2 Economic Barometers and “Cumulation” ....................................... 2.3 Time Derivatives and the Theories of MaximumProduction ......... 2.4 Supply Lags and Market Movements ............................................... 2.5 The Shipbuilding Model and Mixed Equations............................... 2.6 Summary ............................................................................................ Appendix: The Shipbuilding Model and the Lambert Function .............. References ................................................................................................... 9 9 10 13 18 22 26 26 30 3 4 Relaxation Oscillations in the Early Development of Econometrics: A Road Not Taken .................................................... 3.1 Introduction ....................................................................................... 3.2 From Natural Sciences to Economics: A Case of Nonmechanical Analogy .............................................................. 3.3 Accounting for a Changing Period and a Constant Amplitude .... 3.4 Le Corbeiller and the
Early Reception of Relaxation Oscillations Among Econometricians ............................................. 3.5 Coming (Almost) Full Circle............................................................ 3.6 Summary ........................................................................................... References ................................................................................................... Frisch’s Macro-Dynamics: Inner Stability andExternal Impulses ..................................................................................................... 4.1 Introduction ........................................................................................ 4.2 Early Debates on the Accelerator and the Consumption Function ............................................................................................. 4.3 Closing the Model: Determinants of Cyclical Fluctuations............ 33 33 36 40 45 49 51 52 55 55 57 62 ix
x Contents 4.4 The Impulse Problem: Is the Cycle Completely Random? ............ 4.5 Summary ............................................................................................. Appendix 1 : Solving the Model with a Shifted Laplace Transform........ Appendix 2: A Numerical Integration of Frisch’s System........................ References ..................................................................................................... 5 6 7 Kalecki’s Macro-Dynamics: “Automatic Cycles,” Stagnation and Class Struggle ..................................................................................... 5.1 Introduction ......................................................................................... 5.2 Kalecki’s Ingredients: Profits, Class Struggle and Cartels.............. 5.2.1 Profits and Class Struggle :................................................... 5.2.2 Cartels and Market Power ..................................................... 5.3 Putting the Ingredients Together: Kalecki’s Macro-Dynamic Model (1933-1935)............................................................................. 5.4 Stability and Cycles in Kalecki’s Model ......................................... 5.5 The Problem of Growth and Instability ........................................... 5.5.1 Tinbergen’s 1937 Review of Harrod’s Trade Cycle ............ 5.5.2 Lundberg on Economic Expansion and Model Sequences ............................................................................... 5.6 Summary
............................................................................................. Appendix 1 : Stability Regions of Kalecki’s Model .................................. Appendix 2: A Comparison Between Tinbergen, Kalecki and Frisch Using the Lambert Function..................................................... References ..................................................................................................... Tinbergen’s Macro-Dynamics: Instability and the Possibility of Collapse .................................................................................................. 6.1 Introduction ......................................................................................... 6.2 Beyond the Business Cycle: Unstable States, Multiple Equilibria and Coordination Failures ............................................... 6.3 Size Matters: Large Shocks and Collapse in Tinbergen’s Macro-Dynamic Models..................................................................... 6.4 Macro-Dynamics Rising to the Challenge of Instability ................ 6.5 Summary ............................................................................................ References .................................................................................................... Business Cycles, Pump-Priming and the Role of Public Expenditures .............................................................................................. 7.1 Introduction ........................................................................................ 7.2 Tinbergen’s Analysis of the
Multiplier: A Case for Pump-Priming .............................................................................. 7.3 Pump-Priming Debates in America and the1937 Recession .......... 7.4 The Role of Public Expenditures in the AcceleratorMultiplier Model ................................................................................ 71 77 77 83 85 87 87 90 92 95 97 102 107 107 109 112 112 115 117 121 121 123 129 137 143 144 147 147 149 155 162
Contents 8 9 10 xi 7.5 Tinbergen’s Nonlinear Accelerator-Multiplier Model .................... 7.6 Summary ........................................................................................... References ................................................................................................... 171 176 177 Stability Analysis and Early Keynesian Systems................................. 8.1 Introduction ....................................................................................... 8.2 Extracting a Model from Keynes’s “System”: The Oxford Meeting............................................................................................... 8.2.1 In Search of a Determinate Mathematical Model .............. 8.2.2 The Econometricians’ Critique of Meade’s Model: Stability and Dynamics ......................................................... 8.3 Connecting Comparative Statics to Stability Analysis.................... 8.4 Summary ........................................................................................... Appendix: Meade’s Conditions Compared to Samuelson’s, or the Consequences of Simplifications ..................................................... References ................................................................................................... 181 181 Full Employment and Instability: Disentangling Issues on Existence and Stability........................................................................ 9.1 Introduction ....................................................................................... 9.2 Hansen, Samuelson and
Pigou on the Classical Stationary State..................................................................................................... 9.3 Lange: Disequilibrium and Instability ............................................. 9.4 Instability and Empirical Research in Klein’s Work....................... 9.5 Summary ........................................................................................... References ................................................................................................... Conclusion ................................................................................................. References ................................................................................................... Index 182 183 188 190 198 199 201 203 203 206 209 219 227 228 231 235 237
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| adam_txt |
Contents 1 Introduction . References . 1 6 2 Looking for Dynamic Economics: Tinbergen’s Early Breakthrough. 2.1 Introduction . 2.2 Economic Barometers and “Cumulation” . 2.3 Time Derivatives and the Theories of MaximumProduction . 2.4 Supply Lags and Market Movements . 2.5 The Shipbuilding Model and Mixed Equations. 2.6 Summary . Appendix: The Shipbuilding Model and the Lambert Function . References . 9 9 10 13 18 22 26 26 30 3 4 Relaxation Oscillations in the Early Development of Econometrics: A Road Not Taken . 3.1 Introduction . 3.2 From Natural Sciences to Economics: A Case of Nonmechanical Analogy . 3.3 Accounting for a Changing Period and a Constant Amplitude . 3.4 Le Corbeiller and the
Early Reception of Relaxation Oscillations Among Econometricians . 3.5 Coming (Almost) Full Circle. 3.6 Summary . References . Frisch’s Macro-Dynamics: Inner Stability andExternal Impulses . 4.1 Introduction . 4.2 Early Debates on the Accelerator and the Consumption Function . 4.3 Closing the Model: Determinants of Cyclical Fluctuations. 33 33 36 40 45 49 51 52 55 55 57 62 ix
x Contents 4.4 The Impulse Problem: Is the Cycle Completely Random? . 4.5 Summary . Appendix 1 : Solving the Model with a Shifted Laplace Transform. Appendix 2: A Numerical Integration of Frisch’s System. References . 5 6 7 Kalecki’s Macro-Dynamics: “Automatic Cycles,” Stagnation and Class Struggle . 5.1 Introduction . 5.2 Kalecki’s Ingredients: Profits, Class Struggle and Cartels. 5.2.1 Profits and Class Struggle :. 5.2.2 Cartels and Market Power . 5.3 Putting the Ingredients Together: Kalecki’s Macro-Dynamic Model (1933-1935). 5.4 Stability and Cycles in Kalecki’s Model . 5.5 The Problem of Growth and Instability . 5.5.1 Tinbergen’s 1937 Review of Harrod’s Trade Cycle . 5.5.2 Lundberg on Economic Expansion and Model Sequences . 5.6 Summary
. Appendix 1 : Stability Regions of Kalecki’s Model . Appendix 2: A Comparison Between Tinbergen, Kalecki and Frisch Using the Lambert Function. References . Tinbergen’s Macro-Dynamics: Instability and the Possibility of Collapse . 6.1 Introduction . 6.2 Beyond the Business Cycle: Unstable States, Multiple Equilibria and Coordination Failures . 6.3 Size Matters: Large Shocks and Collapse in Tinbergen’s Macro-Dynamic Models. 6.4 Macro-Dynamics Rising to the Challenge of Instability . 6.5 Summary . References . Business Cycles, Pump-Priming and the Role of Public Expenditures . 7.1 Introduction . 7.2 Tinbergen’s Analysis of the
Multiplier: A Case for Pump-Priming . 7.3 Pump-Priming Debates in America and the1937 Recession . 7.4 The Role of Public Expenditures in the AcceleratorMultiplier Model . 71 77 77 83 85 87 87 90 92 95 97 102 107 107 109 112 112 115 117 121 121 123 129 137 143 144 147 147 149 155 162
Contents 8 9 10 xi 7.5 Tinbergen’s Nonlinear Accelerator-Multiplier Model . 7.6 Summary . References . 171 176 177 Stability Analysis and Early Keynesian Systems. 8.1 Introduction . 8.2 Extracting a Model from Keynes’s “System”: The Oxford Meeting. 8.2.1 In Search of a Determinate Mathematical Model . 8.2.2 The Econometricians’ Critique of Meade’s Model: Stability and Dynamics . 8.3 Connecting Comparative Statics to Stability Analysis. 8.4 Summary . Appendix: Meade’s Conditions Compared to Samuelson’s, or the Consequences of Simplifications . References . 181 181 Full Employment and Instability: Disentangling Issues on Existence and Stability. 9.1 Introduction . 9.2 Hansen, Samuelson and
Pigou on the Classical Stationary State. 9.3 Lange: Disequilibrium and Instability . 9.4 Instability and Empirical Research in Klein’s Work. 9.5 Summary . References . Conclusion . References . Index 182 183 188 190 198 199 201 203 203 206 209 219 227 228 231 235 237 |
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| spelling | Assous, Michaël 1975- Verfasser (DE-588)141416432 aut Modeling economic instability a history of early macroeconomics Michaël Assous, Vincent Carret Cham Springer [2022] © 2022 xvi, 243 Seiten Diagramme txt rdacontent n rdamedia nc rdacarrier Springer studies in the history of economic thought 2662-6098 History of Economic Thought and Methodology Macroeconomics and Monetary Economics Econometrics Economic History Economics—History Macroeconomics Economic history Carret, Vincent Verfasser (DE-588)1282107763 aut Erscheint auch als Online-Ausgabe 978-3-030-90310-7 Digitalisierung UB Regensburg - ADAM Catalogue Enrichment application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=033223027&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Assous, Michaël 1975- Carret, Vincent Modeling economic instability a history of early macroeconomics History of Economic Thought and Methodology Macroeconomics and Monetary Economics Econometrics Economic History Economics—History Macroeconomics Economic history |
| title | Modeling economic instability a history of early macroeconomics |
| title_auth | Modeling economic instability a history of early macroeconomics |
| title_exact_search | Modeling economic instability a history of early macroeconomics |
| title_exact_search_txtP | Modeling economic instability a history of early macroeconomics |
| title_full | Modeling economic instability a history of early macroeconomics Michaël Assous, Vincent Carret |
| title_fullStr | Modeling economic instability a history of early macroeconomics Michaël Assous, Vincent Carret |
| title_full_unstemmed | Modeling economic instability a history of early macroeconomics Michaël Assous, Vincent Carret |
| title_short | Modeling economic instability |
| title_sort | modeling economic instability a history of early macroeconomics |
| title_sub | a history of early macroeconomics |
| topic | History of Economic Thought and Methodology Macroeconomics and Monetary Economics Econometrics Economic History Economics—History Macroeconomics Economic history |
| topic_facet | History of Economic Thought and Methodology Macroeconomics and Monetary Economics Econometrics Economic History Economics—History Macroeconomics Economic history |
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