MONEY, MACROECONOMICS AND KEYNES phần 5 pot

... Keynes and the classics and stated that the equation embodying the consumption function and the multiplier ‘is a mere simplification and ultimately insignificant’ (1937: 152 ). On the other hand, Harrod ... 1977: 55 ). Chick is also dismissive of the implied separation of fiscal and monetary policy within the IS–LM framework, arguing that IS–LM AND MACROECONOMICS AFTER KEYNE...

Ngày tải lên: 06/08/2014, 20:22

... MONEY 15 ix FIGURES 7.1 Krugman’s liquidity trap 63 15. 1 An aggregate demand and supply diagram in r, Y space 152 15. 2 Alternative presentation of aggregate demand and supply in r, Y space 153 15. 3 ... post-Keynesian stream from France and Italy: the Circuit approach 91 JOSEPH HALEVI AND RÉDOUANE TAOUIL 11 IS–LM and macroeconomics after Keynes 103 PETER KRIESLER AND...

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... Credit Money and the Demand for Deposits: A Reply’, Cambridge Journal of Economics, 23, 1 15 19. Bank of England (1999). Economic Models at the Bank of England. London: Bank of England. Chick, ... (1992). ‘The Evolution of the Banking System and the Theory of Saving, Investment and Interest’, in P. Arestis and S. Dow (eds), On Money, Method and Keynes: Essays of Victoria Chick....

Ngày tải lên: 06/08/2014, 20:22

... orthodox macroeconomics, based on KEYNES, MONEY AND MODERN MACROECONOMICS 65 7 KEYNES, MONEY AND MODERN MACROECONOMICS Colin Rogers 1. Introduction In a recent review of developments in macroeconomics ... made coherent – but only if we abandon his use of Wicksell and Fisher and employ Keynes s distinction between the rate of interest and the marginal efficiency of capital...

Ngày tải lên: 06/08/2014, 20:22

... entitled ‘Keynesians, Monetarists and Keynes: The End of the Debate – or a Beginning?’ (reprinted as chapter 6 in Chick 1992), Chick took up the issue of contrasting Keynesian, Monetarist and Keynes s ... Post Keynesian Economics, Spring, 19(3), 461–87. Chick, V. (1992). On Money, Method and Keynes. London: MacMillan. Collected Writings of John Maynard Keynes (CWJMK). The General...

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... imply that 6 (24) and . ( 25) Substituting (20) and ( 25) into (23), we get (26) and . (27) Equations (26) and (27) capture the short-run determination of employment and output by aggregate demand. An increase ... Competition’, in Harcourt and Riach, Vol. 1 (1997: 52 –82). Robinson, J. (1978). Keynes and Ricardo’, Journal of Post Keynesian Economics, 1, 12–18. Shapiro, N. (19...

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... Wage Bargaining, Inflation and Unemployment: Theory and Some Evidence’, European Economic Review, 43, 13 95 434. Davidson, P. (1998). ‘Post Keynesian Employment Analysis and the Macroeconomics of OECD ... 3. 3. Aggregate demand and supply in r, Y Space The relevant version of an aggregate demand and supply diagram in r, Y space is illustrated in Fig. 15. 1. In the figure, the C d...

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... analysis, and the so-called 45 approach. It did become a stick with which to beat the ‘Keynesians’ and to demand theoretical changes to modify ‘Keynesian’economics. But among followers of Keynes ... ␤(1)r(t) Ϫ ␤(2)Q(t) J. SMITHIN 156 the formerly sovereign national governments by the Pact for Stability and Growth. Comparing Fig. 15. 5 with Figs 15. 3 and 15. 4, it therefore s...

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... Theory in Keynes s Time and Ours’, South African Economic Journal, 51 (3), 380–406. Chick, V. (1983b). Macroeconomics after Keynes. London: Philip Allen. Chick, V. (1992). In P. Arestis and S. C. ... long-term capital (McCombie and Thirlwall 1994). Nonetheless, Thirlwall’s model maintains the convention in both traditional trade theory and Keynesian (but not Keynes himself) ma...

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... Elgar. (ii) Articles and Contributions to books Keynes and the Post-Keynesians: A Survey and Evaluation’, for the Kent Keynes Conference, November. To be published in Keynes and the Post-Keynesians, ... accumulation 1 25, 178; flight 187, 189; flows 74 5, 159 , 187–9; gain 70; goods 95, 104, 120, 142; inadequacy 1 25, 132 5; inflation 186; losses 66; markets 75; risk 70; satur...

Ngày tải lên: 06/08/2014, 20:22