Download e-book for kindle: Business Cycles and Depressions: An Encyclopedia by David Glasner

By David Glasner

ISBN-10: 0824009444

ISBN-13: 9780824009441

First released in 1997. Routledge is an imprint of Taylor & Francis, an informa corporation.

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Under these additional and less restrictive hypotheses, Allais has built unpublished models characterized by three limit cycles, one stable and two unstable. This last result is important, be­ cause it suggested the existence of a stability zone for small values of z, of a stable limit cycle when z is somewhat larger, and of an explosive trend (hyperinflation or collapse) if z exceeds some critical value, as shown by Figure 3 in the r; z space. Shifts in the nature of the dynamic path could result from exogeneous disturbances affecting the rate of change of total expenditure.

1983. The Austrian Theory of the Trade Cycle and Other Essays. : The Ludwig von Mises Institute. O'Driscoll, G. , Jr. 1977. Economics as a Coordination Problem: The Contribu- BUSINESS CYCLES tion o f Friedrich A. Hayek. Kansas City: Sheed Andrews and McMeel. Robbins, L. 1934. The Great Depression. London: Macmillan. Rothbard, M. N. 1975. America’s Great De­ pression. 3d ed. Kansas City: Sheed and Ward. Skousen, M. 1990. The Structure o f Produc­ tion. New York: New York Univ. Press. A yres, C larence Edw in (1891-1972) C.

1. 2. Fisher’s equation, M V + M 'V ' = PT, assigned separate velocities to currency, M, and deposits, M' Angell was one of the first economists to assemble esti­ mates of the money supply as a combi­ nation of currency and deposits, with appropriate adjustments to eliminate double counting. Fisher’s equation utilized the unwieldy aggregate PT, the money value of all transactions using money, which was dominated by stock-market volume and bore little relation to the size of national income. Angell stressed the value of national-income data as measures of the demand for goods and services, using the primitive national-income estimates for the United States which began to appear in the 1920s.

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Business Cycles and Depressions: An Encyclopedia by David Glasner

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