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An institutionalist’s Journey into the Years of High Theory. John M. Clark on the Accelerator, the Multiplier, and their Interaction

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  • Luca Fiorito

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    Abstract

    This note deals with the origins of Samuelson's multiplier-accelerator model. In clarifying the historical background of the model, we will offer a brief reconstruction of John Maurice Clark’s contributions to the ideas underlying the accelerator, the multiplier, and their interaction. We will show that 1) Clark’s theoretical contributions were quite significant, and 2) that they emerged out of the intellectual movement known as American Institutionalism

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    Paper provided by Department of Economics, University of Siena in its series Department of Economics University of Siena with number 481.

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    Date of creation: May 2006
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    Handle: RePEc:usi:wpaper:481

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