Advanced Search
MyIDEAS: Login to save this article or follow this journal

John Wade's early endogenous dynamic model: 'commercial cycle' and theories of crises

Contents:

Author Info

  • Daniele Besomi

Abstract

John Wade formulated, in 1826 and 1833, two models of cyclical fluctuations most likely to be the first in the literature. They are fully endogenous, based on a cobweb-like mechanism affecting not agricultural production, as was customary at the time, but manufacture. Wade's earlier model relies on a threshold of price change before the reaction of demand and supply halts and reverses the movement, while the second is gradual and based on a delay in the producers' reaction. Wade was also among the first to claim that crises return with a certain regularity and to estimate their period. This paper examines and compares Wade's contributions to early business cycle theory, places them in context, and surveys the scanty references to this pioneering work in the literature.

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: http://www.tandfonline.com/doi/abs/10.1080/09672560802480971
Download Restriction: Access to full text is restricted to subscribers.

As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.

Bibliographic Info

Article provided by Taylor & Francis Journals in its journal The European Journal of the History of Economic Thought.

Volume (Year): 15 (2008)
Issue (Month): 4 ()
Pages: 611-639

as in new window
Handle: RePEc:taf:eujhet:v:15:y:2008:i:4:p:611-639

Contact details of provider:
Web page: http://www.tandfonline.com/REJH20

Order Information:
Web: http://www.tandfonline.com/pricing/journal/REJH20

Related research

Keywords: Business cycle; commercial crises; instability; dynamic model; cobweb theorem;

References

No references listed on IDEAS
You can help add them by filling out this form.

Citations

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:taf:eujhet:v:15:y:2008:i:4:p:611-639. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Michael McNulty).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.