Hostname: page-component-745bb68f8f-kw2vx Total loading time: 0 Render date: 2025-01-08T07:50:06.247Z Has data issue: false hasContentIssue false
  • English
  • Français

Some Properties of R. G. D. Allen's Treatment of Kalecki's 1935 Model of Business Cycles

Published online by Cambridge University Press:  11 June 2009

John V. Baxley  and
John C. Moorhouse
John V. Baxley
Affiliation:
Department of Mathematics, Wake Forest University
John C. Moorhouse
Affiliation:
Department of Economics, Wake Forest University, Winston-Salem, NC 27109
Get access Rights & Permissions [Opens in a new window]

Extract

More than sixty-five years have passed since Michal Kalecki (1935) published one of the first formal mathematical models of business cycles. His paper presents a closed-form analytic solution. This characteristic, among others, sets Kalecki's work apart from that of contemporary literary business cycle theorists such as Friedrich A. Hayek (1935) and John Maynard Keynes (1936).

Type
Research Article
Information
Journal of the History of Economic Thought , Volume 24 , Issue 4 , December 2002 , pp. 463 - 474
Copyright
Copyright © The History of Economics Society 2002

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

REFERENCES

Allen, R. G. D. 1959. Mathematical Economics, 2nd edition. New York: St. Martin's Press.Google Scholar
Allen, R. G. D. 1967. Macro-Economic Theory: A Mathematical Treatment. New York: St. Martin's Press.Google Scholar
Bellman, Richard and Cooke, Kenneth L.. 1963. Differential-Difference Equations. New York: Academic Press.Google Scholar
Feiwel, George R. 1975. The Intellectual Capital of Michal Kalecki. Knoxville, TN: University of Tennessee Press.Google Scholar
Frisch, Ragnar and Holme, Harald. 1935. “The Characteristic Solutions of a Mixed Difference and Differential Equation Occurring in Economic Dynamics.” Econometrica 3 (04): 225–39.Google Scholar
Gandolfo, G. 1980. Economic Dynamics: Methods and Models. New York: North Holland.Google Scholar
Gomulka, Stanislaw, Ostaszewski, Adam, and Davies, Roy. 1990. “The Innovation Rate and Kalecki's Theory of Trend, Unemployment and the Busiess Cycle.” Economica 57 (11): 525–40.Google Scholar
Harcourt, Geoffrey C. 1977. “A Review of The Intellectual Capital of Michal Kalecki: A Study in Economic Theory and Policy.” Economica 44 (02): 92–94.CrossRefGoogle Scholar
Hayek, Friedrich A. 1935. Prices and Production. London: Routledge.Google Scholar
Kalecki, Michal. 1933. “Outline of a Theory of the Business Cycle.” Reprinted as Chapter 1 in Michal Kalecki, Selected Essays on the Dynamics of the Capitalist Economy 1933–1970. Cambridge: Cambridge University Press, 1971.Google Scholar
Kalecki, Michal. 1935. “A Macrodynamic Theory of Business Cycles.” Econometrica 3 (07): 327–44.Google Scholar
Kalecki, Michal. 1937. “A Theory of the Business Cycle.” The Review of Economic Studies 4 (02): 77–97.Google Scholar
Kalecki, Michal. 1990–1996. The Collected Works of Michal Kalecki, edited by Osiatynski, Jerzy, 6 volumes. New York: Clarendon Press.Google Scholar
Keynes, John Maynard. 1936. The General Theory of Employment, Interest, and Money. New York: Harcourt, Brace, and Co., 1965.Google Scholar
Klein, L. R. 1951. “The Life of John Maynard Keynes.” Journal of Political Economy 59 (10): 443–51.CrossRefGoogle Scholar
Robinson, Joan. 1972. “The Second Crisis of Economic Theory.” American Economic Review 62 (05): 1–10.Google Scholar
Sawyer, Malcolm C. 1985a The Economics of Michal Kalecki. New York: M. E. Sharpe.Google Scholar
Steindl, Josef. 1990. Economic Papers 1941–1988 / Josef Steindl. London: Macmillian.Google Scholar
Tinbergen, Jan. 1935. “Annual Survey: Suggestions on Quantitative Business Cycle Theory.” Econometrica 3 (07): 241–308.Google Scholar