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Circulation du capital et explication du changement économique chez Marschak, Frisch et Leontief
[Capital Circulation and the Explanation of Economic Change by Marschak, Frisch and Leontief]

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  • Akhabbar, Amanar

Abstract

We analyze a series of macroeconometric models developed in the years of high theory by Marschak, Frisch and Leontief. These models share an explanation of growth, cycles and fluctuations (“economic change”) based on the analysis of the circulation of capital goods among producers. They disaggregate the macroeconomic production function so as to introduce multiple producers and capital goods. We show that these models offer two main explanations of economic change: one is based on the spread of technological change through the producers’ exchanges network; the other is based on the coordination problems between producers in the capital circulation process.

Suggested Citation

  • Akhabbar, Amanar, 2014. "Circulation du capital et explication du changement économique chez Marschak, Frisch et Leontief [Capital Circulation and the Explanation of Economic Change by Marschak, Frisch and Leontief]," MPRA Paper 93327, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:93327
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    References listed on IDEAS

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    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    economic change; capital; macroeconomic production function; technological change; uncertainty; coordination;
    All these keywords.

    JEL classification:

    • B22 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Macroeconomics
    • B23 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Econometrics; Quantitative and Mathematical Studies
    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals

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