Acceleration Principle and the Theory of Investment

look up modifications of accelration principle in a r t i c l e s of Hicks, Goodwin and Leontief

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ALEXANDER, S. S.

The Accelerator as a generator of steady growth, QJE, LXIII, May 1949, PP* 174-97. The author reviews the theoiy of the accelerator both historically and as a principle in econ. analysis. The accelerator principle is discussed in connection with the generation of steady econ. growth, the influences of the investment and income periods, and the function of price as a stabilizer. The conclusion reached ^is that values of accelerator and propensity to consume can indeed permit steady growth, but with constant prices they will lead to so rapid a rate of growth as to suggest that the assumed relationships cannot long persist. " Digitized for FRASER

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BENNION, E. G.

The multiplier, the acceleration principle and fluctuating autonomous investment, REVIEW OF ECONOMIC STATISTICS,

May, 1945. Pp. 8.


BOWMAN, R. T. and PHILLIPS, Almarin

The capacity concept and induced investment, CANADIAN JOURNAL OF ECONOMICS AND POLITICAL SCIENCE, Vol. 21, May, 1955, pp. 190-203.


CHENERY, Hollis B.

Overcapacity and the acceleration principle, ECONOMETRICA, Vol. XX, 1952, pp. 1-28.


GHENERY, Hollis B.

Overcapacity and the acceleration principle, ECONOMETRICA, XX, Jan. 1952, pp. 1-28.


CHENERI, Hollis B,

Overcapacity and the acceleration principle, ECONOMETBICA,

January, 1952* 23 pp*


CHMERY, Hollis B.

Overcapacity and the acceleration principle, ECONOMETRICA,

January, 1952.


CLARK, J. M.

"Business Acceleration and the Law of Demand,11

JOURNAL OF POLITICAL EGOUQMI, XM;, March, 1917.

First statement of accelerator principle


ECKAUS, R. S.

The acceleration principle reconsidered, QUARTERLT JOURNAL OF ECONOMICS, LXVII, May, 1953.


ECKAUS, R. S.

The acceleration principle reconsidered, QJE, LXVII, May 1953, pp. 209-30


ECKAUS, R. S.

The acceleration principle reconsidered, QUARTERLY JOURNAL OF ECONOMICS, «LXVII+ No. 2, May, 1953.


FISHER, G. H.

A survey of the theory of induced investment, 1900-3940, THE SOUTHERN ECONOMIC JOURNAL, XVIII, No. 4, April, 1952.


PRISOH, Ragnar

Propagation problems and impulse problems i n dynamic economics, in ECONOMIG ESSAYS IN HONOUR OF 3USTAV CASSEL. London5 George Al len & Unwin, 1955.

a c c e l e r a t i o n p r i n c i p l e (macro-economic)


GOOD¥IN, Richard M.

The nonlinear accelerator and the persistence of business cycles, ECONOMETRICA, Vol. 19, No. 1, January, 1951 •


GOODWIN, Richard M.

The nonlinear accelerator and the persistence of business cycles, ECONOMETRICA, Vol, 19, January, 1951 •


GORDON, Robert A.

Investment behavior and business cycles, THE REVIEW OF ECONOMICS AND STATISTICS,

February, 1955* 23 pp.

Most economists agree that the primary source of cyclical instability is to be found in the determinants of investment behavior. This paper attempts to make a different approach to the theory of ec* fluctuations: one which links cyclical change more closely to the underlying forces making for growth and structural change than is usually the case today. First it is examined whether cyclical flucts. are likely to occur in absence of significant variations in (long-term) investment. Following this groundwork is laid for a theory of investment behavior in terms of the opening up of inv. opportunities and the varying inducements to exploit these ops. The analytical framework resulting from these 2 sees, is used to elaborate and refine the usual distinction between major + minor cycles. In conluding sec. it is tried briefly this way of looking at causes of cyclical instability. Digitized for FRASER

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GORDON, R. A.

Investment behavior and business cycles, THE REVIEW OF ECONOMICS AND STATISTICS, XXXVII, February, 1955.


HAMBERG, D. and TSIANG, S. C*

The accelerator in income analysis• Coimnent by D. Hambergj Reply by S. C. Tsiang, THE QUARTERLY JOURNAL OF ECONOMICS, LXVI, No. 4, November, 1952*


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HAMBERG, D. and S. C. TB±any

The AcceX«c%tor i n Income Analys i s , v*TE, LXVI, Bov. 1952, pp. 3(92-599.


HAMBERG, D. and S. C. TSIANG

The Accelerator in Income Analys i s : comment and rep ly . QUARTERLY JOUBNAL OF ECONOMICS, LXVI, Nov. 1952.


HAMBERG, D.

The accelerator in income analysis: comment, QUARTERLY JOURNAL OF ECONOMICS, LXVI, November, 1952, pp. 592-596.

Income growth in secular stagnation and inflation, ECONOMIC JOURNAL, LXIII, September, 1953, pp. 608-626.


KERVYN, A.

A note on the accelerator and constant grovth, THE REVIEW OF ECONOMIC STUDIES, XXII(l), No. 57, October, 1954-.


KNOX, A. D.

The acceleration principle and the theory of investment: A Survey, ECONOMIGA, Vol. XIX,

August, 1952. 29 pp.



KUZNETS, S. S.

Relation between c apital goods and finished products in the business cycle, ECONOMIC ESSAYS IN HONOE OF ¥• C. MITCHELL. New York: Columbia University Press, 1935, pp«. 209-67.


KUZNETS, Simon

Relation between capital goods and finished products in the business cycle, in ECONOMIC ESSAYS IN HONOR OF WESLEY C. MITCHELL. New York:

1935, pp. 209-67.

Statis t ical investigation of the accelerator


KUZNETS, Simon

Relations between Capital Goods and Finished Products in the Business Cycle, in ECONOMIC ESSAYS IN HONOR OF WESLEY C. MITCHELL, New York: Columbia University Press, 1935, pp. 211-267.

Accelerator Principle


MANNE, A. S.

Some notes on the accelerat ion p r i nc ip l e , REVIEW OF ECONOMIC STATISTICS, Vol. XXVII, No. 2,

May, 1945. pp. 93-7. Pp. 7 .


MIETH, Wolfgrant

Das Akzelerationsprinzip. Berlin: Duncker St Humblot, 1954. Pp. 120.

Review: by T. A. Breier, AMERICAN ECONOMIC REVIEW, Vol, 45, Dec, 1955, pp. 988-90.


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NEISSER, Hans

•Critical notes on the acceleration principle," (jJE, LXVIII, May 1954, PP- 253-27'A*


NEISSER, Hans

"Critical Notes on the Acceleration Principle,11

QUARTERLI JOURNAL OF ECONOMICS, LXVIII, No. 2, May, 1954-


NORTON, Frank E.

The accelerator and the overinvestment and underconsumption models, THE EOONOMIO JOURNAL, tXTO, No. 261, March, 1956, pp. 49-65.


NORTON, Frank B.

Capital theory and progressive equilibrium, AMERICAN ECONOMIC REVIEW, SUPPLEMENT, XLI, May, 1951, pp. 145-56.


NORTON, Frank E., Jr.

Capital theory and progressive equilibrium, AMERICAN ECONOMIC REVIEW, SUPPLEMENT, Vol. 41, May, 1951, pp. U5-156.

Discussion; by Jacob A. Stockfisch and J. S. Earley, ibid., pp. 175-180.

criticism of models of aggregate equilibrium based on acceleration principle


ROSE, K.

Die Bedeutung des Akzerlerationsprlncips lUr die Dynamisierung des Keynes1 schen Systems, JAHRBUCH rur NATIONALoK. UND STATISTIK,

December, 1953. 4.0 pp.


SAMUELSON, Paul A.

A synthesis of the principle of acceleration and the multiplier, JOURNAL OF POLITICAL ECONOMY, Vol. -47, No. 6, December, 1939, pp. 786-707.


TINBERGEN, Jan

Statistical evidence of the acceleration principle, ECONOMICA, May, 1938, pp.l64-?6

STATISTICAL TESTING OF BUSINESS-CYCLE THEORIES. Vol. I: A METHOD AND ITS APPLICATION TO INVESTMENT ACTIVITY. Geneva: League of Nations, Economic Intelligence Service, 1939> see pp. 115-30.


TSIANG, S. C

Accelerator, theory of the firm, and the business cycle, QUARTERLY JOURNAL OF ECONOMICS, LXVI, No. 3, August, 1951.


TSIANG, S. C.

The accelerator, the theory of the firm, and the business cycle, QUARTERLY JOURNAL OF ECONOMICS,

August, 1951.


WEIGHT, D. M.

A neglected approach to the acceleration principle, REVIEW OF ECONOMIC STATISTICS, XXIII, No. 2, May, 1941, pp. 100-01.


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Acceleration Principle and the Theory of Investment