Some Properties of R. G. D. Allen's Treatment of Kalecki's 1935 Model of Business Cycles

John V. Baxley and John C. Moorhouse

Journal of the History of Economic Thought, 2002, vol. 24, issue 4, 463-474

Abstract: 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).

Date: 2002
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