Lhe law of diminishing elasticity of demand in Harrod’s trade cycle

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Michaël Assous; Olivier Bruno; Muriel Dal-Pont;
  • Journal: Cahiers d'économie Politique, issue 67, pages 159-174
  • Subject: Trade cycle, imperfect competition, law of diminishing elasticity of demand, Harrod.
    • jel: jel:B22 | jel:E32

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 his The Trade Cycle Theory. We discuss the micro and macro foundations of the Law of Diminis... View more
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