Chapter

Harrod‐Type Macrodynamics

John Hicks

in Methods of Dynamic Economics

Published in print October 1987 | ISBN: 9780198772873
Published online November 2003 | e-ISBN: 9780191596438 | DOI: http://dx.doi.org/10.1093/0198772874.003.0012
 Harrod‐Type Macrodynamics

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The Keynes-type theory, if formulated in the way that we have been formulating it, needs to be completed by a consideration of what happens when fixed capital investment is not given autonomously, but is itself dependent, in whole or in part, on changes in output. The working of an economy in which all investment is induced investment, is one of the things which we should like to understand. This chapter discusses a model of this kind called a Harrod-type model.

Keywords: economic theory; dynamic economics; Harrod-type theory; fixed capital investment

Chapter.  5762 words. 

Subjects: Macroeconomics and Monetary Economics

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