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Structure and cycles

Author

Listed:
  • Mario Amendola

    (UNIROMA - Università degli Studi di Roma "La Sapienza" = Sapienza University [Rome])

  • Claude Froeschlé

    (CASSIOPEE - Laboratoire de Cosmologie, Astrophysique Stellaire & Solaire, de Planétologie et de Mécanique des Fluides - UNS - Université Nice Sophia Antipolis (1965 - 2019) - INSU - CNRS - Institut national des sciences de l'Univers - Observatoire de la Côte d'Azur - UniCA - Université Côte d'Azur - CNRS - Centre National de la Recherche Scientifique)

  • Jean-Luc Gaffard

Abstract

On the basis of a Neo-Austrian representation of the production process, we show how recurrent cycles can emerge from a distortion of productive capacity,which hamper the viability of changes that imply structural modifications. Even the quickest and most complete adaptation of the structure of productive capacity cannot prevent the economy from bearing fluctuations: it can only make them regular.

Suggested Citation

  • Mario Amendola & Claude Froeschlé & Jean-Luc Gaffard, 1996. "Structure and cycles," Post-Print hal-03471494, HAL.
    • Handle: RePEc:hal:journl:hal-03471494
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    References listed on IDEAS

    as
    1. Frank Hahn, 1978. "On Non-Walrasian Equilibria," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 45(1), pages 1-17.
    2. Mario Amendola & Jean-Luc Gaffard, 1988. "The innovative choice. An economic analysis of the dynamics of technology," Post-Print halshs-00420361, HAL.
    3. Michele Boldrin, 1988. "Persistent Oscillations and Chaos in Dynamic Economic Models: Notes for a Survey," UCLA Economics Working Papers 458A, UCLA Department of Economics.
    4. Lucas, Robert E, Jr, 1975. "An Equilibrium Model of the Business Cycle," Journal of Political Economy, University of Chicago Press, vol. 83(6), pages 1113-1144, December.
    5. Hicks, J R, 1970. "A Neo-Austrian Growth Theory," Economic Journal, Royal Economic Society, vol. 80(318), pages 257-281, June.
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    2. Montuori, M. & Labini, F.Sylos & Amici, A., 1997. "Statistical properties of galaxy cluster distribution," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 246(1), pages 1-17.

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