 From Fisher to Keynes: A Mathematical Business Cycle TheoryMario Pomini ()
Chapter Chapter 6 in Luigi Amoroso, 2022, pp 117-140 from Palgrave Macmillan Abstract: Abstract This chapter examines Amoroso’s business cycle theory, which he considered one of the most important contributions to corporatist economic theory. Amoroso’s starting point was the theory of economic barometers, which he attempted to formalize. He developed business cycle modelshis mathematical theory of the cyclic movement of the economy by considering two sectors: the productive sector and the commercial one. There were two variables to be determined: the movement of the general price level and that of the production volume. In analytical terms, the equations were first-order differential equations with constant coefficients. Then, Amoroso worked to extend his model using equations from Keynes’s Treatise, but without much success because the resulting dynamic system was unstable. Eventually, in 1935, he arrived at a simplified macroeconomic model with three sectors: industrial, commercial, and banking. In this model, Amoroso obtained both a cyclical component and a long-term growth rate, consistent with the Italian tradition. Date: 2022 There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:pal:pshchp:978-3-031-10339-1_6 Ordering information: This item can be ordered from DOI: 10.1007/978-3-031-10339-1_6 Access Statistics for this chapter More chapters in Palgrave Studies in the History of Economic Thought from Palgrave Macmillan |
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