A Reconsideration of Frisch’s Original Cycle Model

The 'Rocking Horse Model Does Rock': Solving Zambelli’s Puzzle

“…See for instanceMorgan (1990),Thalberg (1990),Zambelli (2004Zambelli ( , 2007Zambelli ( , 1992, orDuque (2009). In our opinion, the label "rocking horse model" is not appropriated given that Frisch never provided a complete mathematical model of the PPIP.2 In our opinion, the most troublesome problem is that his analysis, and consequently his results, is based on a mixture of Zambelli's analysis and those of Frisch.…”

JAPANESE CONTRIBUTIONS TO NONLINEAR CYCLE THEORY IN THE 1950s*

“…17 17 My own first teacher of macrodynamics, Professor Björn Thalberg, in his contribution to the Goodwin Festschrift (1990, pp. 103–4) observed, quite perceptively, that: It is worth noting that in a linear model it is generally difficult to point out any immediate or particular cause of a turning point, the explanation of each turn being in principle the whole model.…”

“…My own first teacher of macrodynamics, Professor Björn Thalberg, in his contribution to the Goodwin Festschrift (1990, pp. 103–4) observed, quite perceptively, that:…”