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Some Properties of R. G. D. Allen's Treatment of Kalecki's 1935 Model of Business Cycles
Published online by Cambridge University Press: 11 June 2009
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More than sixty-five years have passed since Michal Kalecki (1935) published one of the first formal mathematical models of business cycles. His paper presents a closed-form analytic solution. This characteristic, among others, sets Kalecki's work apart from that of contemporary literary business cycle theorists such as Friedrich A. Hayek (1935) and John Maynard Keynes (1936).
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- Copyright © The History of Economics Society 2002