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＜電子ブック＞
Wicksell's business cycle / Mauro Boianovsky
(European journal of the history of economic thought ; volume 2, issue 2)

出版者	(London : Routledge)
出版年	September 1995
大きさ	1 online resource (pages 375-411)
著者標目	*Boianovsky, Mauro author
件　名	LCSH:Economics -- History  全ての件名で検索 LCSH:Economics -- Study and teaching  全ての件名で検索 FREE:World Wide Web: Library information networks
一般注記	Includes bibliographical references The article investigates Knut Wicksell's interpretation of aggregate economic fluctuations. It is shown that Wicksell described the business cycle as oscillations of an economy with increasing population and scarce natural resources around its steady growth path ('dynamic equilibrium'), provoked by sporadic technological progress. The 'shocks' bring about a wave‐like motion because of psychological and technical lags in the economic structure. Wicksell's suggestion that excess net savings in the depression take the form of stocks of commodities is compared to his contemporaries' answers to the question 'What happens to savings during the depression?' The article also puts forward a relatively neglected connection between Malthus' and Wicksell's notions of over‐production. Divergences between the natural and market rates of interest — essential to his better‐known 'cumulative process' ‐ are not a necessary part of Wicksell's business cycle, but they are important to explain why the upper turning‐point can have the nature of a crisis, which results from wrong expectations induced by cumulative price movements HTTP:URL=https://www.routledgehistoricalresources.com/economic-thought/journal-articles/wicksells-business-cycle

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