A Mathematical Version of Garrison's Model

2017. Quarterly Journal of Austrian Economics. Vol. 19, No. 3, pp. 225-247

26 Pages Posted: 30 Aug 2016 Last revised: 15 Feb 2020

See all articles by Nicolas Cachanosky

Nicolas Cachanosky

Metropolitan State University of Denver; American Institute for Economic Research

Alexandre Padilla

Metropolitan State University of Denver - Department of Economics

Date Written: April 12, 2016

Abstract

We develop a simple mathematical version of Garrison’s model. The purpose to develop a mathematical framework is to (1) show how such representation can be used and (2) layout a path for future work that requires a more flexible version of Garrison’s treatment than the graphical exposition. While the graphical model is limited to three dimensions, a mathematical version can include more variables of interest. First, we develop the mathematical framework of Garrison’s treatment. Then we apply it to the cases of increase in savings, secular growth, and the Austrian business cycle theory.

Keywords: austrian business cycle model, Garrison model

JEL Classification: E14, E32

Suggested Citation

Cachanosky, Nicolas and Padilla, Alexandre, A Mathematical Version of Garrison's Model (April 12, 2016). 2017. Quarterly Journal of Austrian Economics. Vol. 19, No. 3, pp. 225-247, Available at SSRN: https://ssrn.com/abstract=2830938

Nicolas Cachanosky (Contact Author)

Metropolitan State University of Denver ( email )

Student Success Building
890 Auraria Pkwy #310
Denver, CO 80217
United States

HOME PAGE: http://www.ncachanosky.edu

American Institute for Economic Research

PO Box 1000
Great Barrington, MA 01230
United States

Alexandre Padilla

Metropolitan State University of Denver - Department of Economics ( email )

Economics department, Campus Box 77
PO Box 173362
Denver, CO 80217
United States
303- 615-0111 (Phone)
303-556-3966 (Fax)

HOME PAGE: http://www.alexandrepadilla.com

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