Subject: Trade cycle, Imperfect competition, Law of Diminishing Elasticity of Demand, Roy Harrod
jel: jel:E32 | jel:B22
In The Trade Cycle, Roy Harrod [1936a] propounded the Law of Diminishing Elasticity of Demand. The present paper tries to clarify the precise role Harrod assigned to this law in order to understand his trade cycle theory. We discuss the micro and macro foundations of th... View more
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