MONEY, MACROECONOMICS AND KEYNES phần 6 docx

... MONEY 19 CONTENTS viii 10 On a post-Keynesian stream from France and Italy: the Circuit approach 91 JOSEPH HALEVI AND RÉDOUANE TAOUIL 11 IS–LM and macroeconomics after Keynes 10 3 PETER KRIESLER AND ... MONEY 15 ix FIGURES 7 .1 Krugman’s liquidity trap 63 15 .1 An aggregate demand and supply diagram in r, Y space 15 2 15 .2 Alternative presentation of aggregate d...

Ngày tải lên: 06/08/2014, 20:22

... Blackwell. Chick, V. (19 92) . ‘The Evolution of the Banking System and the Theory of Saving, Investment and Interest’, in P. Arestis and S. Dow (eds), Chapter 12 in On Money, Method and Keynes: Selected ... Ml) and money as a store of wealth (corresponding to M2 or broader monetary aggregate other than Ml). The transactions demand for money is a demand for narrow money, and...

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 ... the Chang dynasty (2000– 130 0 BC), in the Mycenian civilization (Greece, 2000– 130 0 BC), in Egypt at the time of the old Empire (2100– 130 0 BC), and in the Mexican and...

Ngày tải lên: 06/08/2014, 20:22

... Innovation and the Post Keynesian Approach to “The Process of Capital Formation” ’, Journal of Post Keynesian Economics, Spring, 19(3), 46 1–87. Chick, V. (1992). On Money, Method and Keynes. London: ... decisions to invest.’ (Keynes 1937a: 247 , my emphases). 4 The Keynesian sense of liquidity employed in this discussion refers to the relation between aggregate supply of and dem...

Ngày tải lên: 06/08/2014, 20:22

... 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

... 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 ... aggregate demand and supply matched and expectations were ful- filled. In telling this story, both Keynes and Vicky distinguished between two versions or, rather, two con...

Ngày tải lên: 06/08/2014, 20:22

... as the choice between ‘hoarding’ and ‘investing’, or, alternatively, as the choice between ‘bank deposits’ and ‘securities’. (Keynes 1930a: 141 [1 971 b: 1 27] ) And he adds in a footnote: It is ... However, by the 1 970 s the P, Y version of aggregate demand and supply had become firmly entrenched in the intermediate level textbooks, for example in Dornbusch and Fischer (1 978 :...

Ngày tải lên: 06/08/2014, 20:22

... J. (1 988 a). Horizontalists and Verticalists. Cambridge: Cambridge University Press. Moore, B. J. (1 988 b). Keynes s Treatment of Interest’, in J. Smithin and O. F. Hamouda (eds), Keynes and Public ... George Allen and Unwin. SOME MYTHS ABOUT PHILLIPS’S CURVE 171 Chick, V. (1 983 ). Macroeconomics after Keynes. Cambridge, Massachusetts: MIT Press. Chick, V. (1 984 ). ‘Monetary...

Ngày tải lên: 06/08/2014, 20:22

... Philip Allen. Chick, V. ( 199 2). In P. Arestis and S. C. Dow (eds), On Money, Method and Keynes, Selected Essays. Houndmills: Macmillan. Davidson, P. ( 198 2). International Money and the Real World. ... C. ( 199 3). Money and the Economic Process. Aldershot: Elgar. Dow, S. C. ( 199 9). ‘The Stages of Banking Development and the Spatial Evolution of Financial Systems’, in R. Ma...

Ngày tải lên: 06/08/2014, 20:22

... 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, ... Equilibrium and their Relevance to Understanding Keynes , in S. Nisticò and D. Tosato (eds), Competing Economic Theories. Routledge. (with Sheila Dow) ‘Formalism, Logic and...

Ngày tải lên: 06/08/2014, 20:22

... present in the outburst of complaints about usury and excessive interest rates from the 15 60s onward. A usury bill prohibiting interest in excess of 10 per cent was introduced in 15 71 and cases of ... from 3.5 71 (15 26) to 5. 517 (15 46) to 9. 310 (15 61) , declining then to 6.286 (16 00) but falling back to long-term orders of magnitude (c. 3.5) only by 16 43. In...

Ngày tải lên: 09/08/2014, 19:22

... 99, 29 3–346. Goodhart, C. (19 98). ‘Central Bankers and Uncertainty’, Keynes Lecture in Economics, Oct 29 , reprinted in Proceedings of the British Academy, 10 1, 22 9– 71 (19 99) and in the Bank of ... Press. Chick, V. (19 73). The Theory of Monetary Policy, revised edn. Oxford: Basil Blackwell. Chick, V. (19 92) . ‘The Evolution of the Banking System and the Th...

Ngày tải lên: 09/08/2014, 19:22

... Money and the Demand for Deposits: A Reply’, Cambridge Journal of Economics, 23, 11 5 19 . Bank of England (19 99). Economic Models at the Bank of England. London: Bank of England. Chick, V. (19 73) . ... stock of money in excess of the demand for money leads to the bidding up of prices as the ‘excess’ money is spent, continuing until the demand for money is agai...

Ngày tải lên: 09/08/2014, 19:22

... and Floods’, in A. Ingham and A. M. Ulph (eds), Demand, Equilibrium and Trade: Essays in Honour of Ivor F. Pearce. London: Macmillan. (Reprinted in Arestis and Dow 19 92: 16 7–80). Chick, V. (19 92). ... Maturity mismatching, finance and funding Financing investment in the context of fundamental uncertainty The problem of maturity mismatching (in the process o...

Ngày tải lên: 09/08/2014, 19:22

... to Ohlin in April 19 37 about Joan Robinson reading the proofs and ‘not discovering any connection’ (Keynes 19 37 [19 73b]: 19 0). Not that Keynes was unappreciative of the writings of Kahn and Joan ... expectations in the General Theory (Reddaway 19 36 [Keynes 19 73]: 67 ). Keynes replied that, if so, it was due to inadvertence (19 36b [19 73]: 70). 9 See e.g. Ackley...

Ngày tải lên: 09/08/2014, 19:22