Business Cycles, Pump-Priming and the Role of Public Expenditures

Michaël Assous and Vincent Carret
Additional contact information
Vincent Carret: Université Lumière Lyon 2

Chapter Chapter 7 in Modeling Economic Instability, 2022, pp 147-179 from Springer

Abstract: Abstract Debates surrounding the multiplier and the possibility of pump-primingPump-priming the economy foundPump-priming a new urgency with the 1937–1938 crisis of the American economy. It was in this context that Samuelson’s multiplier–accelerator model was built; just like the first macro-dynamic models developed by Kalecki, Tinbergen and Frisch, it embedded a specific visionVision whose originality was to give a specific role to public expenditures. This visionVision was deeply rooted in the economic events of the late 1930s and contributed to take attention away from the trajectory toward the final equilibrium position which could be obtained, an important shift initiated at the same time in Europe by Tinbergen.

Date: 2022
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:spshcp:978-3-030-90310-7_7

Ordering information: This item can be ordered from
http://www.springer.com/9783030903107

DOI: 10.1007/978-3-030-90310-7_7

Access Statistics for this chapter

More chapters in Springer Studies in the History of Economic Thought from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().