Study week on the econometric approach to development planning

Bibliographic data

Monograph

Identifikator:: 1824422792

URN:: urn:nbn:de:zbw-retromon-217476

Document type:: Monograph

Title:: Study week on the econometric approach to development planning

Place of publication:: Amsterdam [u.a.]

Publisher:: North-Holland Publ. Co. [u.a.]

Year of publication:: 1965

Scope:: XLVII, 1259 S.; graph. Darst.

Digitisation:: 2022

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Some observations on countercyclical fiscal policy and its effects on economic growth / Trygve Haavelmo, Universitetet i Oslo - Oslo - Norge

Collection:: Economics Books

526 PONTIFICIAE ACADEMIAE SCIENTIARVM SCRIPTA VARIA - 28 cerning public investment, not the effects of empirically observed public investment. Incidentally, in my model there will in general be included cycles in public investment too. Koopmans has asked whether the conclusions about growth depend on the assumption of cycles in private investment. The answer is « yes ». WoLD When reading Professor HAAVELMO’s paper I was struck by ‘he contrast between the simple and seemingly innocent assumptions on the one side, and the rather startling implications and conclu- sions on the other, and at the same time it puzzled me that he gives little or no comment whether his results can or cannot be reconciled with current theories. Somehow I got the feeling that Professor HAAvELMO has written his paper with tongue in cheek, and this impression was confirmed as I consulted him about his paper one of the first days of the Study Week. I should now like to ask whether I have understood his intentions correctly, namely that the paper illustrates the danger of mixing together the theories of two different regimes of economic conditions: on the one hand the serious depression around 1930, and the Keynesian theory of measures to get rid of the depression, on the other hand the modern theories of economic growth? More specifically, is it the point of the paper that the Keynesian assumptions are appropriate for a regime of unemployment and unused capacity, whereas these same assump- tions lead to unrealistic and startling conclusions in a regime of full employment and full utilization of capacity? If so, how are the hypotheses underlying Professor HAAVELMO’s simple model to be sorted out between the two regimes? A clarifying answer to these questions would add greatly to the appropriate understanding of Professor HAAVELMO’s important model. (81 Haavelmo - pag. 24

Access restriction

Copyright

fullscreen: Study week on the econometric approach to development planning

Monograph

Chapter

Table of contents

Download

Monograph

Chapter

This page

Image fragment

Citation links

Citation recommendation