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Does the Matrix Multiplier Oscillate?

In: Essays in Linear Economic Structures

Author

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  • R. M. Goodwin

Abstract

The question is: does the multiplier process as worked out by Kahn and Clark, but expanded to include inter-firm and government payments, give rise to cycles? The answer is certainly yes, but, as Mr Chipman shows, there is a special case in which it does not, and it is exactly this special, and unrealistic case which multiplier theorists usually talk about. The correct statement is that there is latent in the transactions structure of society the possibility of oscillation, but that this may or may not be brought out according to the circumstances.

Suggested Citation

  • R. M. Goodwin, 1983. "Does the Matrix Multiplier Oscillate?," Palgrave Macmillan Books, in: Essays in Linear Economic Structures, chapter 2, pages 22-29, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-05507-4_2
    DOI: 10.1007/978-1-349-05507-4_2
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    Cited by:

    1. G. C. Harcourt, 2015. "Fusing indissolubly the cycle and the trend: Richard Goodwin’s profound insight," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 39(6), pages 1569-1578.
    2. Bródy, András, 2007. "A ciklus oka és hatása [The cause and effect of cycles]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(10), pages 903-914.
    3. Bródy, András, 2002. "Gazdasági számvetés. Tőkék és áramlatok [Economic accounting. Sums and flows of capital]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(11), pages 943-959.

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