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Some International Aspects Of Business Cycles: Neisser, Haberler, And Modern Open Economy Macroeconomics

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  • Trautwein, Hans-Michael

Abstract

Despite the transnational character of the Great Depression, there are few works in the interwar literature that deal with the propagation of business cycles across national borders and systemic risks of depression in the world economy. Two notable exceptions are Hans Neisser’s Some International Aspects of the Business Cycle (1936) and chapter 12 in Gottfried Haberler’s Prosperity and Depression ([1937] 1964), which carries the heading “International Aspects of Business Cycles.†Both works differ substantially from each other and from the modern way of thinking about international business cycles in open economy macroeconomics. Haberler’s and Neisser’s approaches help to identify relevant issues that have been lost from sight in modern open economy macroeconomics.

Suggested Citation

  • Trautwein, Hans-Michael, 2017. "Some International Aspects Of Business Cycles: Neisser, Haberler, And Modern Open Economy Macroeconomics," Journal of the History of Economic Thought, Cambridge University Press, vol. 39(1), pages 47-67, March.
    • Handle: RePEc:cup:jhisec:v:39:y:2017:i:01:p:47-67_00
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    Cited by:

    1. Bossone, Biagio, 2019. "The portfolio theory of inflation (and policy effectiveness)," Economics Discussion Papers 2019-29, Kiel Institute for the World Economy (IfW Kiel).

    More about this item

    JEL classification:

    • B22 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Macroeconomics
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics
    • F44 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - International Business Cycles

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