Toward a non-linear theory of economic fluctuations: Allais's contribution to endogenous business cycle theory in the 1950s

Alain Raybaut

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Abstract: In this framework, the existence of a limit cycle is mathematically proved and its existence confirmed by empirical evidence. The mathematical tools are similar to Keynesian pioneering non-linear macrodynamic advances but the theoretical framework is obviously totally distinct. In particular, for Allais, the origin of endogenous cycles is monetary, and explained by the interplay between two key elements: the agents that hold the desired money balances and the banking system that can create money.

Keywords: Business cycle theory; endogenous cycles; money; macrodynamics (search for similar items in EconPapers)
Date: 2014-10-01
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Published in European Journal of the History of Economic Thought, 2014, 21 (5), pp.899-919. ⟨10.1080/09672567.2014.934871⟩

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Journal Article: Toward a non-linear theory of economic fluctuations: Allais's contribution to endogenous business cycle theory in the 1950s (2014)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-01069253

DOI: 10.1080/09672567.2014.934871

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