Book contents
- Frontmatter
- PART I RAGNAR FRISCH AND HIS CONTRIBUTIONS TO ECONOMICS
- PART II UTILITY MEASUREMENT
- PART III PRODUCTION THEORY
- PART IV MICROECONOMIC POLICY
- PART V ECONOMETRIC METHODS
- PART VI MACRODYNAMICS
- 14 Frisch's Vision and Explanation of the Trade-Cycle Phenomenon: His Connections with Wicksell, Åkerman, and Schumpeter
- 15 Ragnar Frisch's Conception of the Business Cycle
- 16 Business Cycles: Real Facts or Fallacies?
- PART VII MACROECONOMIC PLANNING
- Author Index
- Subject Index
14 - Frisch's Vision and Explanation of the Trade-Cycle Phenomenon: His Connections with Wicksell, Åkerman, and Schumpeter
from PART VI - MACRODYNAMICS
Published online by Cambridge University Press: 05 January 2013
- Frontmatter
- PART I RAGNAR FRISCH AND HIS CONTRIBUTIONS TO ECONOMICS
- PART II UTILITY MEASUREMENT
- PART III PRODUCTION THEORY
- PART IV MICROECONOMIC POLICY
- PART V ECONOMETRIC METHODS
- PART VI MACRODYNAMICS
- 14 Frisch's Vision and Explanation of the Trade-Cycle Phenomenon: His Connections with Wicksell, Åkerman, and Schumpeter
- 15 Ragnar Frisch's Conception of the Business Cycle
- 16 Business Cycles: Real Facts or Fallacies?
- PART VII MACROECONOMIC PLANNING
- Author Index
- Subject Index
Summary
When Frisch published his famous “propagation and impulse” essay (Frisch, 1933) he had very definite ideas about the descriptive characteristics of the cycle phenomenon, about the method by which the phenomenon ought to be analyzed, and also (albeit not as settled) about the main structure of the economic mechanism that generated the cycles. As to the first point, empirical research in the 1920s by Mitchell, Persons, and others, describing the characteristics of observed time series such as the existence of cycles (or cyclical components) of various lengths (Kitchin, Juglar, Kondratiev) and the structure of leads and lags among central variables over the cycle (the Harvard A, B, and C curves), had left its mark upon the young Frisch. In fact, he had for a brief period (1925-7) taken part in this type of empirical research himself. As described by Andvig (1986), Frisch started his venture into macroeconomics in 1925 by going into advanced time-series analysis, exploring alternative statistical techniques for detecting cyclical components.
- Type
- Chapter
- Information
- Econometrics and Economic Theory in the 20th CenturyThe Ragnar Frisch Centennial Symposium, pp. 461 - 482Publisher: Cambridge University PressPrint publication year: 1999