Quarterly Journal of Austrian Economics 19, no. 3 (Fall 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: business cycle, Austrian School, Garrison
JEL CLASSIFICATION: B53, E32
![](https://cdn.mises.org/styles/responsive_6_9_650w/s3/static-page/img/QJAE_20141027_0_0.jpg.webp?itok=EOik_ZU4 650w,https://cdn.mises.org/styles/responsive_6_9_870w/s3/static-page/img/QJAE_20141027_0_0.jpg.webp?itok=Mwx2w2Z3 870w,https://cdn.mises.org/styles/responsive_6_9_1090w/s3/static-page/img/QJAE_20141027_0_0.jpg.webp?itok=Cc3mypqm 1090w,https://cdn.mises.org/styles/responsive_6_9_1310w/s3/static-page/img/QJAE_20141027_0_0.jpg.webp?itok=0zXyHG5H 1310w,https://cdn.mises.org/styles/responsive_6_9_1530w/s3/static-page/img/QJAE_20141027_0_0.jpg.webp?itok=8Oqlt4uY 1530w)
Cachanosky, Nicolás, and Alexandre Padilla, “A Mathematical Version of Garrison’s Model,” in Quarterly Journal of Austrian Economics 19, no. 3 (Fall 2016): 225–247.