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 micro and macro foundations of the Law of Diminishing...
