"Hazard", determinism and economic fluctuations in Allais' thought

Georges Prat

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Abstract: According to Allais'view, a same framework may be proposed to explain economic fluctuations, depressions and hyperinflations. Contrarily to the real business cycle theory, Allais' theory of cycles is a moneraty theory based on the hypothesis that exogenous factors act through endogenous structures and specially hereditary influences.

Keywords: hazard; economic fluctuations; monetary cycles; exogenous factors (search for similar items in EconPapers)
Date: 1996
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Published in Christian Schmidt. Uncertainty in Economic thought, Edward Elgar, pp.1-30, 1996

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:halshs-00173100

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