The Hicksian Traverse

Christian Bidard

No 2024-12, EconomiX Working Papers from University of Paris Nanterre, EconomiX

Abstract: We consider the disturbances due to the introduction of a new machine in an economy moving on a regular path. Hicks names traverse the intertemporal path leading from the present to another regular path. The dynamics depend on the characteristics of the old and the modern techniques. We simplify and extend Hicks' analysis, which relies on a neo-Austrian model, and show that the conditions for the existence of a full employment traverse are restrictive.

Keywords: Austran model; technical change; employment; traverse (search for similar items in EconPapers)
JEL-codes: B25 E32 (search for similar items in EconPapers)
Pages: 13 pages
Date: 2024
New Economics Papers: this item is included in nep-his
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Persistent link: https://EconPapers.repec.org/RePEc:drm:wpaper:2024-12

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