Business Cycles and Economic Growth.

DUESENBERRY (James S.)

Business Cycles and Economic Growth.

First edition, first printing. 8vo. xi, [1], 341, [1] pp. Original cloth, spine and front cover lettered in gilt on red ground, dust jacket (internally clean and unmarked; jacket price clipped with some light wear to extremities, unobtrusive tape reinforcements to verso at ends of spine panel, notwithstanding a very good copy indeed). New York, McGraw-Hill Book Company, Inc, 1958.

£175.00

Best-known for his early career work on consumption behaviour, the Harvard economist James S. Duesenberry (1918-2009) devoted much of his subsequent research to the theory of business cycles. ‘As the culmination of this research program, Duesenberry took a leadership role in the project of constructing the first large-scale econometric model, The Brookings Quarterly Econometric model of the United States, and its natural sequel, the first large-scale model of financial flows, ‘A Flow of Funds Model’. It is in Business Cycles and Economic Growth that Duesenberry formulates the conception of business cycles that guides his later work’ (Business Cycles and Depressions: An Encyclopaedia).

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