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Marshall'S Ceteris Paribus In A Dynamic Framework

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  • Fabio Cerina

Abstract

The paper aims to propose a formalization of the concept of ceteris paribus (CP) by means of a dynamic model. The basic result of the analysis is that the CP clause may assume essentially different meanings according to (1) the kind of variables assumed to be ‘frozen’ and (2) the length of the time horizon. It is then possible to distinguish, respectively, between an exogenous and an endogenous CP and, within the latter, between a short‐run and a long‐run CP. This double analytical distinction helps in understanding the role the CP clause plays in Marshall's thought and in economics in general.

Suggested Citation

  • Fabio Cerina, 2009. "Marshall'S Ceteris Paribus In A Dynamic Framework," Metroeconomica, Wiley Blackwell, vol. 60(1), pages 24-53, February.
    • Handle: RePEc:bla:metroe:v:60:y:2009:i:1:p:24-53
    DOI: 10.1111/j.1467-999X.2008.00325.x
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    1. John B. Davis & D. W. Hands & Uskali Mäki (ed.), 1998. "The Handbook of Economic Methodology," Books, Edward Elgar Publishing, number 741.
    2. Fisher, Franklin M. & Ando, Albert, 1962. "Two Theorems on Ceteris Paribus in the Analysis of Dynamic Systems," American Political Science Review, Cambridge University Press, vol. 56(1), pages 108-113, March.
    3. Schlicht, Ekkehart, . "Isolation and Aggregation in Economics," Monographs in Economics, University of Munich, Department of Economics, number 3, November.
    4. Lucas, Robert Jr, 1976. "Econometric policy evaluation: A critique," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 1(1), pages 19-46, January.
    5. Rodolfo Signorino, 2003. "Rational vs historical reconstructions. A note on Blaug," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 10(2), pages 329-338.
    6. Fabio Cerina, 2001. "Dinamica e ceteris paribus in una economia marshalliana," STUDI ECONOMICI, FrancoAngeli Editore, vol. 2001(75).
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    Cited by:

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    3. Manzoor, Davood & Haqiqi, Iman & Aghababaei, Mohammad, 2012. "Modeling Dutch Disease in the Economy of Iran: A Computable General Equilibrium Approach," MPRA Paper 95821, University Library of Munich, Germany.

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    More about this item

    JEL classification:

    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals
    • B40 - Schools of Economic Thought and Methodology - - Economic Methodology - - - General
    • C60 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - General

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