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Birth and Early History of Nonlinear Dynamics in Economics

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  • Eugenia Perona

    (Universidad Nacional de Córdoba, Facultad de Ciencias Económicas, Departamento de Economía y Finanzas (Córdoba, Argentina))

Abstract

Since the 1980s, nonlinear dynamic modelling is becoming a popular methodology in economics. However, it is not as new as many researchers seem to believe. Before the linear approach dominated economic theory around the 1950s, many economists were actively involved in the development of nonlinear models, this tendency being particularly strong during the period 1930-1950. The main objective of this essay is to offer a systematic and comprehensive survey of the early developments in nonlinear dynamics in economics, ranging form Frisch’s original impulse and propagation model in 1933, to Goodwin’s formalisation of the limit cycle in 1951. / Desde comienzos de los ’80, la elaboración de modelos no lineales se está volviendo una metodología cada vez más popular en economía. Sin embargo, no es tan novedosa como muchos investigadores parecen creer. Antes de que el enfoque lineal dominara a la teoría económica alrededor de los ’50, muchos economistas se encontraban comprometidos con el desarrollo de modelos no lineales, especialmente durante el período 1930-1950. El principal objetivo de este ensayo es proporcionar una revisión sistemática de los desarrollos pioneros en dinámica no lineal en economía, desde el modelo original de impulso y propagación de Frisch en 1933, hasta la formalización de Goodwin del ciclo límite en 1951.

Suggested Citation

  • Eugenia Perona, 2005. "Birth and Early History of Nonlinear Dynamics in Economics," Revista de Economía y Estadística, Universidad Nacional de Córdoba, Facultad de Ciencias Económicas, Instituto de Economía y Finanzas, vol. 43(2), pages 29-60, Diciembre.
    • Handle: RePEc:ief:reveye:v:43:y:2005:i:2:p:29-60
    DOI: 10.55444/2451.7321.2005.v43.n2.3817
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    References listed on IDEAS

    as
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    2. Michal Kalecki, 1937. "A Theory of the Business Cycle," Review of Economic Studies, Oxford University Press, vol. 4(2), pages 77-97.
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    4. Morgan,Mary S., 1991. "The History of Econometric Ideas," Cambridge Books, Cambridge University Press, number 9780521424653, January.
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    More about this item

    Keywords

    Nonlinear modelling; economic cycles; macrodynamics; endogeneous/exogenous fluctuations; history of thought 1930-1950;
    All these keywords.

    JEL classification:

    • B2 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925
    • N1 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations

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