Abstract

LIZARAZU ALANEZ, Eddy. The Model SI/LL of J R. Hicks (1937): Keynes and the Classics. Inv. Econ [online]. 2002, vol.62, n.242, pp.81-126. ISSN 0185-1667.

In this article we study the logical structure of J. R. Hicks' SI/LL model. He explained that the origin of the SI/LL device lies in an adaptation of the analysis of the exchange of markets to the General Theory of J. M. Keynes. Although this is partially true, the SI/LL model concerns a texture that is very different from the one we are familiar with, since its origin is related to ideas that were deve­loped by R. F. Harrod and J. E. Meade, who took more time trying to extract the algebraic model of Keynes. Similar to the contribution of J. E. Meade, Hicks' SI/LL model's introduction of the static expectations in the marginal efficiency of the capital of the logical structure, leads us to Keynes' result: an economy of flexible prices doesn't always converge with an equilibrium with full employment.

        · abstract in Spanish     · text in Spanish     · Spanish ( pdf )