Publication Date


Document Type


First Advisor

Fairbanks, Robert P., 1934-1971

Degree Name

M.A. (Master of Arts)

Legacy Department

Department of Economics


Business cycles


The contention of the thesis is that more than one accelerator concept exists in business cycle models. The thesis also considers the fiscal policy implications due to the use of one concept as opposed to another concept. In order to examine these questions various business cycle models using accelerator concepts are reviewed, their accelerator concepts are discussed and the effects of substituting a different accelerator concept into selected models are demonstrated. The business cycle models reviewed fall into three categories; cycle models which explain fluctuations for the entire system, such as the Hansen-Samuelson model; inventory cycle models; and selected business cycle growth models which use the accelerator concept. Also empirical studies are discussed which provide additional evidence concerning the existence of more than one accelerator concept. The conclusions of the study are that two distinct accelerator concepts can be identified while the third is not as distinct unless distinctions between the mathematical frameworks are recognized. Also, the empirical studies provide evidence verifying certain of the accelerator concepts.


Includes bibliographical references.


66 pages




Northern Illinois University

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