A Contribution to the Theory of the Trade Cycle.
HICKS John Richard (1950.)
£50.00 [First Edition]
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First edition. 8vo. vii, , 201, , pp. Original black cloth, spine lettered and ruled in gilt (some minor offsetting to endpapers, otherwise an excellent copy). Oxford, Clarendon Press.
Hick's first major attempt at disequilibrium dynamics, which built on the multiplier-accelerator framework established by Samuelson and the growth model of Harrod. 'A Contribution to the Theory of the Trade Cycle (1950) provides an example of the type of model that explains cycles as the outcome of the interaction between the multiplier and the accelerator. These systems are linear in their simplest formulations when they lead to cycles which are almost certainly either damped or anti-damped' (New Palgrave).
Stock Code: 231082