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DYNAMIC PROCESS ANALYSIS AND A MODEL OF THE TRADE CYCLE
Author(s) -
Smyth D.J.
Publication year - 1964
Publication title -
economic record
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.365
H-Index - 42
eISSN - 1475-4932
pISSN - 0013-0249
DOI - 10.1111/j.1475-4932.1964.tb02133.x
Subject(s) - comparative statics , economics , process (computing) , business cycle , computer science , econometrics , mathematical economics , macroeconomics , operating system
In a recent article H. R. Hudson has merged real and monetary‐factors to produce a comparative statics trade cycle model. 1 The present paper introduces specific dynamic relationships into the model, shows that as a result the system need not behave in the fashion described by Hudson, and argues that the model thus amended provides a more suitable explanation of post‐war fluctuations.