Hicksian Theory of Business Cycles | Firm
Prof. J.R. Hicks presented in 1951 a theory of business cycles which is a modified version of the theory put forward by Paul Samuelson in 1939, known as Samuelson in 1939, known as Samuelson's multiplier-accelerator interaction theory of business cycles. Just like Samuelson's model, this theory is designed to focus some crucial factors in growth trends and cyclical fluctuations. Hicks' [...]