Back to the roots of the Cassel model: the Norwegian School of re-investment cycles

DUPONT

Type de document
ARTICLE A COMITE DE LECTURE NON REPERTORIE DANS BDI (ACLN)
Langue
anglais
Auteur
DUPONT
Résumé / Abstract
The goal of this paper is to show that the impulse-propagation model (1933), referred to as the rocking horse model, derives from work on business cycles begun by Frisch in 1927. This model's contribution to quantitative business cycle analysis consists not only of the presentation of one of the first macrodynamic models, but also of the theoretical explanation of the analysis of cycles focussed on the production of capital goods. These two innovative aspects seem to correspond to two questions structuring the analysis of business cycles: "what is the nature of cycles?" and "what is the origin of cycles?"
Source