Template-Type: ReDIF-Article 1.0
Author-Name: Katia Caldari 
Author-Email:
Author-Workplace-Name: Università di Padova - Dipartimento di Scienze Economiche
Author-Name: Ferdinando Meacci 
Author-Email:
Author-Workplace-Name: Università di Padova - Dipartimento di Scienze Economiche
Title: Errors in Time as Causes of Economic Fluctuations : An Introduction
Abstract: The role of expectations and of their disappointment in determining economic fluctuations was first
studied by the great economists of the 1930s. Amongst them is Marco Fanno. Fanno’s most popular
contributions on this topic are his 1931 article Cicli di produzione, cicli del credito e fluttuazioni industriali
and his 1947 book La teoria delle fluttuazioni economiche. Relatively little known is his 1933 article Irrtümer
in der Zeit als Ursachen wirtschaftlicher Schwankungen published in German in «Zeitschrift für Nationalökonomie». 
The present article is an introduction to the English translation (published for the
first time in the current issue of this journal) and of the Italian translation (available from the website
of this journal) of the 1933 article. The aim of this introduction is to help readers to determine the essential
similarities and some important dfferences between the 1931 article and the less known article
of 1933. The most relevant of these differences is the greater attention devoted in the latter article to
errors in time (an expression equivalent to the disappointment of expectations that is found in modern
literature) and to the interactions between these errors, the origin of fluctuations and the changes
in the time structure of production. Our introduction endeavours to highlight the strengths and weaknesses
of the 1933 article considered both on its own and in relation to the 1931 article from which it
was derived. The relations between the 1933 article, translated here, and the macroeconomic theory
that was developed in the 1930s and in the following decades will be examined in a diffrent paper
Classification-JEL: B22; E2; E3
Keywords: errors; expectations; fluctuations
Journal: Il Pensiero Economico Italiano
Pages: 127-146 
Volume: 15
Issue: 1
Year: 2007
File-URL: http://www.libraweb.net/articoli.php?chiave=200706301&rivista=63
Handle: RePEc:pei:journl:v:15:y:2007:1:6:p:127-146