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Johan Åkerman vs. Ragnar Frisch on Quantitative Business Cycle Analysis

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  • Mauro Boianovsky
  • Hans-Michael Trautwein

Abstract

The article provides an account of the debate that took place between the late 1920s and the mid 1930s between the Scandinavian economists Johan Åkerman and Ragnar Frisch about the quantitative treatment of aggregate economic fluctuations. Although both interpreted the business cycle as an interference phenomenon between waves of different order, they disagreed on how to model its generation mechanism. Åkerman's emphasis on seasonal changes in his path-breaking application of harmonic analysis to economic fluctuations was rejected by Frisch, who instead suggested the explanation of business cycles as free oscillations determined by impulse and propagation mechanisms.

Suggested Citation

  • Mauro Boianovsky & Hans-Michael Trautwein, 2007. "Johan Åkerman vs. Ragnar Frisch on Quantitative Business Cycle Analysis," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 14(3), pages 487-517.
    • Handle: RePEc:taf:eujhet:v:14:y:2007:i:3:p:487-517
    DOI: 10.1080/09672560701570369
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    References listed on IDEAS

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    1. Simon Kuznets, 1933. "Appendices to "Seasonal Variations in Industry and Trade"," NBER Chapters, in: Seasonal Variations in Industry and Trade, pages 369-448, National Bureau of Economic Research, Inc.
    2. Simon Kuznets, 1933. "Seasonal Variations in Industry and Trade," NBER Books, National Bureau of Economic Research, Inc, number kuzn33-1.
    3. Moore, Henry Ludwell, 1914. "Economics Cycles: Their law and cause," History of Economic Thought Books, McMaster University Archive for the History of Economic Thought, number moore1914.
    4. Simon Kuznets, 1933. "Introduction to "Seasonal Variations in Industry and Trade"," NBER Chapters, in: Seasonal Variations in Industry and Trade, pages 1-6, National Bureau of Economic Research, Inc.
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    Cited by:

    1. Vincent Carret, 2020. "And yet it rocks! Fluctuations and growth in Ragnar Frisch's rocking horse model," Working Papers halshs-02969773, HAL.
    2. Vianna Franco, Marco P. & Ribeiro, Leonardo Costa & Albuquerque, Eduardo da Motta e, 2022. "Beyond Random Causes: Harmonic Analysis Of Business Cycles At The Moscow Conjuncture Institute," Journal of the History of Economic Thought, Cambridge University Press, vol. 44(3), pages 456-476, September.
    3. Carret, Vincent, 2021. "Fluctuations and growth in Ragnar Frisch’s rocking horse model," OSF Preprints 69nsg, Center for Open Science.
    4. Carlson, Benny, 2022. "Cassel, Ohlin, Åkerman and the Wall Street Crash of 1929," OSF Preprints 78ahc, Center for Open Science.
    5. Shu-Heng Chen & Sai-Ping Li, 2011. "Econophysics: Bridges over a Turbulent Current," Papers 1107.5373, arXiv.org.

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