A recent contribution to trade cycle theory
The article is a critical review of the new book A Contribution to the Theory of Trade Cycle by J. R. Hicks. Placing Hicks’ theory in direct line of decent from Harrod’s dynamics, in its economics, and from Frisch and Samuelson, in its technique, the Author calls attention first of all to the shortc...
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| Format: | Article |
| Language: | English |
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Associazione Economia civile
2014-09-01
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| Series: | PSL Quarterly Review |
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| Online Access: | https://rosa.uniroma1.it/rosa04/psl_quarterly_review/article/view/12691 |
| _version_ | 1811172329943728128 |
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| author | F.H. HAHN |
| author_facet | F.H. HAHN |
| author_sort | F.H. HAHN |
| collection | DOAJ |
| description | The article is a critical review of the new book A Contribution to the Theory of Trade Cycle by J. R. Hicks. Placing Hicks’ theory in direct line of decent from Harrod’s dynamics, in its economics, and from Frisch and Samuelson, in its technique, the Author calls attention first of all to the shortcomings in Harrod’s dynamic model and goes on to examine the more realistic Hicksian model. Yet emphasising that Hicks’ work represents a very real advance in many individual points of dynamic theory, the author is led to conclusion that it does not quite add up to a satisfactory theory of the trade cycle, especially because of its failure to distinguish clearly between supply and demand conditions and an overly mechanical use of different equations based on constant coefficients.
JEL: E32, F10
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| first_indexed | 2024-04-10T17:28:11Z |
| format | Article |
| id | doaj.art-7d09d18eb7a840ed9e3044ab110bd657 |
| institution | Directory Open Access Journal |
| issn | 2037-3635 2037-3643 |
| language | English |
| last_indexed | 2024-04-10T17:28:11Z |
| publishDate | 2014-09-01 |
| publisher | Associazione Economia civile |
| record_format | Article |
| series | PSL Quarterly Review |
| spelling | doaj.art-7d09d18eb7a840ed9e3044ab110bd6572023-02-03T16:50:49ZengAssociazione Economia civilePSL Quarterly Review2037-36352037-36432014-09-0131510.13133/2037-3643/12691A recent contribution to trade cycle theoryF.H. HAHNThe article is a critical review of the new book A Contribution to the Theory of Trade Cycle by J. R. Hicks. Placing Hicks’ theory in direct line of decent from Harrod’s dynamics, in its economics, and from Frisch and Samuelson, in its technique, the Author calls attention first of all to the shortcomings in Harrod’s dynamic model and goes on to examine the more realistic Hicksian model. Yet emphasising that Hicks’ work represents a very real advance in many individual points of dynamic theory, the author is led to conclusion that it does not quite add up to a satisfactory theory of the trade cycle, especially because of its failure to distinguish clearly between supply and demand conditions and an overly mechanical use of different equations based on constant coefficients. JEL: E32, F10 https://rosa.uniroma1.it/rosa04/psl_quarterly_review/article/view/12691JR HicksHarrodFrischSamuelsondynamic modeltrade cycle theory |
| spellingShingle | F.H. HAHN A recent contribution to trade cycle theory PSL Quarterly Review JR Hicks Harrod Frisch Samuelson dynamic model trade cycle theory |
| title | A recent contribution to trade cycle theory |
| title_full | A recent contribution to trade cycle theory |
| title_fullStr | A recent contribution to trade cycle theory |
| title_full_unstemmed | A recent contribution to trade cycle theory |
| title_short | A recent contribution to trade cycle theory |
| title_sort | recent contribution to trade cycle theory |
| topic | JR Hicks Harrod Frisch Samuelson dynamic model trade cycle theory |
| url | https://rosa.uniroma1.it/rosa04/psl_quarterly_review/article/view/12691 |
| work_keys_str_mv | AT fhhahn arecentcontributiontotradecycletheory AT fhhahn recentcontributiontotradecycletheory |