Relaxation Oscillations in the Early Development of Econometrics: A Road Not Taken

Michaël Assous and Vincent Carret
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Vincent Carret: Université Lumière Lyon 2

Chapter Chapter 3 in Modeling Economic Instability, 2022, pp 33-53 from Springer

Abstract: Abstract At the turn of the 1920–1930sOscillationrelaxation, TinbergenTinbergen, Jan was not the only Dutch economist trying to make sense, mathematically, of economic fluctuationsFluctuations. In particular, Ludwig Hamburger, a Dutch engineer interested in economics, also tried to develop a representation of business cycles through the use of relaxation oscillations. Hamburger had noticed in the statistical exploration of business cycles conducted during the 1920s that the oscillations (of production, of trade, etc.) often had a fixed amplitude but a variable periodicity; from his engineering background, he was also aware of the work of his countryman Balthasar van der Pol, who had developed the theory of relaxation oscillations, a type of oscillator modeled by a nonlinear equation whose solution was a limit cycle with a fixed amplitude and a period depending on the “resistance” when the model was an electrical circuit.

Date: 2022
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DOI: 10.1007/978-3-030-90310-7_3

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