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The Hicksian Traverse

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  • Christian Bidard

Abstract

We consider the disturbances due to the introduction of a new machine in an economy moving on a regular path. Hicks names traverse the intertemporal path leading from the present to another regular path. The dynamics depend on the characteristics of the old and the modern techniques. We simplify and extend Hicks' analysis, which relies on a neo-Austrian model, and show that the conditions for the existence of a full employment traverse are restrictive.

Suggested Citation

  • Christian Bidard, 2024. "The Hicksian Traverse," EconomiX Working Papers 2024-12, University of Paris Nanterre, EconomiX.
    • Handle: RePEc:drm:wpaper:2024-12
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    References listed on IDEAS

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    1. Burmeister, Edwin, 1974. "Synthesizing the Neo-Austrian and Alternative Approaches to Capital Theory: A Survey," Journal of Economic Literature, American Economic Association, vol. 12(2), pages 413-456, June.
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    JEL classification:

    • B25 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Historical; Institutional; Evolutionary; Austrian; Stockholm School
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles

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