The Econometric SocietyEdited by: Guido W. Imbens • Print ISSN: 0012-9682 • Online ISSN: 1468-0262
Econometrica: Jul, 1974, Volume 42, Issue 4
https://doi.org/0012-9682(197407)42:4<667:TCOTSM>2.0.CO;2-K
p. 667-678
Joachim Dorfner, Jurgen Kromphardt
The introduction of ratchet effects into the consumption and investment functions of the Smithies model does not provide an endogenous explanation of cyclical fluctuations and growth, contrary to Smithies' expectation. As in other cycle models, the growth trend can only be explained by exogenous forces.
November 16, 2023
I am delighted to welcome a new member to the Quantitative Economics editorial board. Effective July 1, 2024, Chao Fu (University of Wisconsin-Madison) will become a Co-Editor. Chao is a distinguished scholar with broad expertise in applied economics. Her knowledge and insight will be of great value to the journal.
