IDEAS home Printed from https://ideas.repec.org/a/taf/revpoe/v15y2003i1p85-106.html
   My bibliography  Save this article

On the Transition from Long-period to Short-period Equilibria

Author

Listed:
  • Christian Gehrke

Abstract

The paper examines the contributions of Myrdal, Lindahl, Hicks and Hayek that initiated the transition from the traditional long-period method to the methods of 'intertemporal' and 'temporary equilibria' in neoclassical general equilibrium analyses. It is shown that in the early contributions the idea of a tendency towards a long-period position was not completely abandoned, and that the new 'dynamic' equilibrium concepts were conceived by some of their originators as useful analytical devices for studying transitions between long-period equilibria only.

Suggested Citation

  • Christian Gehrke, 2003. "On the Transition from Long-period to Short-period Equilibria," Review of Political Economy, Taylor & Francis Journals, vol. 15(1), pages 85-106.
    • Handle: RePEc:taf:revpoe:v:15:y:2003:i:1:p:85-106
    DOI: 10.1080/09538250308439
    as

    Download full text from publisher

    File URL: http://www.tandfonline.com/doi/abs/10.1080/09538250308439
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/09538250308439?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. repec:ucp:bkecon:9780226320625 is not listed on IDEAS
    2. Kurz,Heinz D. (ed.), 2000. "Critical Essays on Piero Sraffa's Legacy in Economics," Cambridge Books, Cambridge University Press, number 9780521580892, September.
    3. Jonung,Lars (ed.), 1991. "The Stockholm School of Economics Revisited," Cambridge Books, Cambridge University Press, number 9780521391276, September.
    4. Frank Hahn, 1991. "Hicksian Themes on Stability," International Economic Association Series, in: Lionel W. McKenzie & Stefano Zamagni (ed.), Value and Capital: Fifty Years Later, chapter 3, pages 64-83, Palgrave Macmillan.
    5. Kurz,Heinz D. & Salvadori,Neri, 1997. "Theory of Production," Cambridge Books, Cambridge University Press, number 9780521588676.
    6. repec:bla:econom:v:46:y:1979:i:181:p:1-10 is not listed on IDEAS
    7. Milgate, Murray, 1983. "Capital and Employment," Elsevier Monographs, Elsevier, edition 1, number 9780124962507 edited by Eatwell, John.
    8. Hicks, J. R., 1987. "Capital and Time: A Neo-Austrian Theory," OUP Catalogue, Oxford University Press, number 9780198772866.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Saverio M. Fratini, 2019. "On The Second Stage Of The Cambridge Capital Controversy," Journal of Economic Surveys, Wiley Blackwell, vol. 33(4), pages 1073-1093, September.
    2. Sergio Cesaratto, 2017. "Bofinger and Ries versus Borio and Disyatat: macroeconomics after endogenous money. A brief note," Department of Economics University of Siena 763, Department of Economics, University of Siena.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Gontijo, Cláudio, 2000. "On the Criticism to the Classical Method," Revista Brasileira de Economia - RBE, EPGE Brazilian School of Economics and Finance - FGV EPGE (Brazil), vol. 54(1), January.
    2. Stan Metcalfe, 2009. "Technology and Economic Theory," Papers on Economics and Evolution 2009-09, Philipps University Marburg, Department of Geography.
    3. Harvey Gram, 2003. "Joan Robinson: classical revivalist or neoclassical critic?," Review of Political Economy, Taylor & Francis Journals, vol. 15(4), pages 493-508.
    4. Peter Docherty, 2021. "A Short Period Sraffa-Keynes Model for the Evaluation of Monetary Policy," Working Paper Series 2021/01, Economics Discipline Group, UTS Business School, University of Technology, Sydney.
    5. K. Vela Velupillai, 2004. "Hicksian Visions and Vignettes on (Non-Linear) Trade Cycle Theories," Department of Economics Working Papers 0407, Department of Economics, University of Trento, Italia.
    6. Sandelin, Bo & Trautwein, Hans-Michael, 2008. "The Baltic Exchange: Mutual Influences between Economists in the German and Swedish Language Areas," Working Papers in Economics 288, University of Gothenburg, Department of Economics.
    7. Christian Lager, 2000. "Production, Prices and Time: A Comparison of Some Alternative Concepts," Economic Systems Research, Taylor & Francis Journals, vol. 12(2), pages 231-253.
    8. Tony Aspromourgos, 2004. "Sraffian research programmes and unorthodox economics," Review of Political Economy, Taylor & Francis Journals, vol. 16(2), pages 179-206.
    9. Jochen Hartwig, 2006. "Explaining the aggregate price level with Keynes's principle of effective demand," Review of Social Economy, Taylor & Francis Journals, vol. 64(4), pages 469-492.
    10. Kazuhiro Kurose, 2022. "A two-class economy from the multi-sectoral perspective: the controversy between Pasinetti and Meade–Hahn–Samuelson–Modigliani revisited," Evolutionary and Institutional Economics Review, Springer, vol. 19(1), pages 239-270, April.
    11. Massimo Cingolani, 2015. "Sylos Labini su Marx: implicazioni per la politica economica (Sylos Labini on Marx: economic policy implications)," Moneta e Credito, Economia civile, vol. 68(269), pages 81-147.
    12. Keiran Sharpe, 2006. "Effective demand in a stylised Keynesian model of growth," Review of Political Economy, Taylor & Francis Journals, vol. 18(2), pages 173-191.
    13. Siven, Claes-Henric, 2000. "Analytical Foundations of Erik Lindahl's Monetary Analysis, 1924-30," Research Papers in Economics 2000:14, Stockholm University, Department of Economics.
    14. Rodolfo Signorino, 2003. "Book Reviews," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 10(2), pages 339-370.
    15. Giorgio Giorgi, 2022. "Nonsingular M-matrices: a Tour in the Various Characterizations and in Some Related Classes," DEM Working Papers Series 206, University of Pavia, Department of Economics and Management.
    16. Luis Daniel Torres-González, 2020. "The Characteristics of the Productive Structure Behind the Empirical Regularities in Production Prices Curves," Working Papers 2016, New School for Social Research, Department of Economics.
    17. A. Rainer & R. Strohmaier, 2014. "Modeling the diffusion of general purpose technologies in an evolutionary multi-sector framework," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 41(3), pages 425-444, August.
    18. Heinz D. Kurz, 2011. "The Contributions of Two Eminent Japanese Scholars to the Development of Economic Theory: Michio Morishima and Takashi Negishi," Chapters, in: Heinz D. Kurz & Tamotsu Nishizawa & Keith Tribe (ed.), The Dissemination of Economic Ideas, chapter 13, Edward Elgar Publishing.
    19. Roger E. Backhouse, 2013. "Understanding Mark Blaug's attitude towards Sraffian economics," Chapters, in: Marcel Boumans & Matthias Klaes (ed.), Mark Blaug: Rebel with Many Causes, chapter 11, pages 146-158, Edward Elgar Publishing.
    20. Luca Timponelli, 2021. "From Pareto to Bridgman: The Operational Turn of Samuelson, Sraffa and Leontief," Annals of the Fondazione Luigi Einaudi. An Interdisciplinary Journal of Economics, History and Political Science, Fondazione Luigi Einaudi, Torino (Italy), vol. 55(1), pages 303-328, June.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:revpoe:v:15:y:2003:i:1:p:85-106. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/CRPE20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.