Trade Cycle

Steindl, Josef

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Document type:: Works

Collection:: Josef Steindl Collection

Title:: Trade Cycle

Author:: Steindl, Josef

Scope:: Manuskript, nummeriert, 18 Seiten

Year of publication:: 1968

Source material date:: [vermutlich um 1968]

Language:: English

Description:: Trade cycle 7-10 years before 1939, since then: strongly modified by government intervention. Trade cycle in the post-war world - is the cycle obsolete? ...We can see from the study of the trade cycle (analysis of equilibria, also simulation) that the length of the lag affects the period: the longer the lag, the longer the period of the lag. For very long reaction times you might get a trend, if also the positive feed-back is strong. Thus we must introduce terms with a slow reaction and a positive feed back. K. [Kalecki] uses the form of "semi-autonomous" (semi-exogenous) variables, i.e. he brings them in as functions of t, but explains verbally how they are slowly affected by the development of the economy. He is very cautious about it, because he is afraid of making too far reaching conclusions [...]. (Auszug, S. 1 und S. 15) In diesem Manuskript werden die 3 Versionen von Kaleckis Konjunkturzyklus-Theorie behandelt. Mit Hilfe von mathematischen Gleichungen und graphischen Darstellungen wird unter anderem das "pure business cycle-Modell" sowie die letzte Version von "business cycle" analysiert. Der Text enthält zahlreiche Hinweise mit Kommentaren zu den Seiten von Kaleckis Werk "Theory of economic dynamics - an essay on cyclical and long-run changes in capitalist economy", London 1954. Im Texteingang sind auch folgende Autoren bzw. Werke kurz notiert: Ezekiel (Cobweb Theorem) Readings in Business Cycle Theory (1944), Survey of contemporary Economics (Ed. Ellis, 1948), Leontieff (1934) und H. Schultz.

Subject:: Kalecki, Michal (1899-1970) Konjunkturzyklus Langfristige Entwicklung evolutorische Wirtschaft

Note:: Entstehungszeitraum vermutlich um 1968.

Related work:: Steindl, Josef: Some Comments on the Three Versions of Kalecki's Theory of the Trade Cycle. In: Assorodobraj-Kula, Nina [et al.] (Hrsg.): Studies in Economic Theory and Practice. Essays in Honor of Edward Lipinski. Amsterdam: North-Holland, 1981, S. 125-133

Topic:: Growth,cycle and stagnation

JEL Classification:: E32 [Business Fluctuations, Cycles]

Shelfmark:: S/M.60.3

Access:: Free access

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