Ragnar Frisch - Oscillations Quotes

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The majority of the economic oscillations which we encounter seem to be explained most plausibly as free oscillations.

Ragnar Frisch

In reality the cycles we have the occasion to observe are generally not damped. How can the maintenance of the swings be explained? Have theses dynamic laws deduced from theory and showing damped oscillations no value in explaining the real phenomena, or in what respect do the dynamic laws need to be completed in order to explain the real happenings? They (dynamic laws) only form one element of the explanation: they solve the propagation problem. But the impulse problem remains.

Ragnar Frisch

Certain exterior impulses hit the economic mechanism and thereby initiate more or less regular oscillations.

Ragnar Frisch