Period Analysis and Multiplier Theory

Fritz Machlup

The Quarterly Journal of Economics, 1939, vol. 54, issue 1_Part_1, 1-27

Abstract: Significant periods: transaction periods, 2; income periods, 3; plan adjustment periods, 5; equilibrium adjustment periods, 6. — The relevant income period, 7.— The length of the adjustment period, 11. — Marginal propensity to consume treated as a psychological factor, 13. — The lag of cumulative income, 16. — Schematic illustration, 17.— Analysis of the leakages, 17. — The leakage through imports, 21. — Dropping some assumptions: effective demand, 23; the state of confidence, 24; cost of production, 24; interest rates, 25. — Unpredictability of idle balances, 26.— Conclusion, 27.

Date: 1939
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