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Harrod, Hansen, and Samuelson on the Multiplier-Acceleration Model: A Further Note
Ist Teil von
History of political economy, 2003-07, Vol.35 (2), p.305-322
Ort / Verlag
Durham: Duke University Press
Erscheinungsjahr
2003
Link zum Volltext
Quelle
EBSCOhost Business Source Ultimate
Beschreibungen/Notizen
In a recent issue of HOPE Arnold Heertje and Peter Heemeijer argued that Paul Samuelson's multiplier-acceleration synthesis was inspired not so much by Alvin Hansen, as Samuelson claimed and repeated two decades later, but by Roy Harrod's pioneering book The Trade Cycle, which Heertje and Heemeijer see as the genuine historical origin of the fluctuation mechanism based on the interaction of the multiplier and the acceleration principle. This article agrees with Heertje and Heemeijer than Harrod supplied the first clear-cut and explicit theory of the cycle based on the interaction of the multiplier and the acceleration principle, but this statement needs some qualifications. One may legitimately look for other contestants to the title of priority in this field.