Kaldor’s Model of the Trade Cycle (With Diagram)
Kaldor's Model of the Trade Cycle! Kaldor's theory of the trade cycle is a comparatively simple and neat theory built directly on Keynes' saving-investment analysis. Keynes theory of the determination of the level of income did not take into consideration the theory of the fluctuations of income. It is important to note that Kaldor's theory of the trade cycle emerges [...]