We offer a reconstruction of the history of formal treatment of fluctuations vis-à-vis macroeconomic growth theories, with an account of the birth of the neoclassical approach at the hands simultaneously of Solow and Swan. Modern macromodeling of growth phenomena grew out of a general equilibrium approach as much as from the attempt of classical macrodynamics to construct a general theory explaining cycles and growth on a unique set of principles.
Punzo, L.F. (2009). A NONLINEAR HISTORY OF GROWTH AND CYCLE THEORIES. HISTORY OF POLITICAL ECONOMY, 41, 88-109 [10.1215/00182702-2009-018].
A NONLINEAR HISTORY OF GROWTH AND CYCLE THEORIES
PUNZO, LIONELLO FRANCO
2009-01-01
Abstract
We offer a reconstruction of the history of formal treatment of fluctuations vis-à-vis macroeconomic growth theories, with an account of the birth of the neoclassical approach at the hands simultaneously of Solow and Swan. Modern macromodeling of growth phenomena grew out of a general equilibrium approach as much as from the attempt of classical macrodynamics to construct a general theory explaining cycles and growth on a unique set of principles.
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https://hdl.handle.net/11365/25419
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