Bruno, Olivier; DAL PONT LEGRAND, Muriel; Assous, Michaël - Groupe de REcherche en Droit, Économie, Gestion … - 2015
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 … the main mechanisms that stabilize the economy during the trade cycle. In addition, we show how the Law of Diminishing …