money macroeconomics and keynes essays in honour of victoria chick volume 1 phần 4 doc

... 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 fundingFinancing investment in the context of fundamental uncertaintyThe problem of maturity mismatching (in the process of investment finance in monetary production ... whereby investmentis the causa causans in the determination of aggregate income, and saving.2 And yet, in a paper written originally in 19 84 she claims thatthe reversal of causality of the saving–investment...

... M. (19 99). ‘Aggregate Demand, Investment and the NAIRU’, mimeo.M. SAWYER 44 7 KEYNES, MONEY AND MODERN MACROECONOMICS Colin Rogers 1. Introduction In a recent review of developments in macroeconomics ... 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 again in balance with thestock of money. ... qualified aggregate profits as the final finance of investment initiallyfinanced by credit. I am now convinced of the infelicitous nature of the distinc-tion between initial and final finance. There...

... to Ohlin in April 19 37 aboutJoan 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 ... Journal, 49 , 15 0 4. Tarshis, L. (19 79). ‘The Aggregate Supply Function in Keynes s General Theory’, in Boskin (19 79: 3 61 92).Weitzman, M. L. (19 82). ‘Increasing Returns and the Foundations of UnemploymentTheory’, ... theory of money person in his discussions of the generalprice level and inflation and deflation, and a Marshallian, pure and simple, in hisunderstanding of the formation of relative prices in general,...

... of interest, falling profitability and rising unemployment in the 19 70s. Inflation has since come down again, real interestrates increased in the early 19 80s and have remained positive, profitability ... DECISION 14 9 14 THE INVESTMENT DECISION IN KEYNES S THOUGHT 1 Augusto Graziani 1. IntroductionThe decision to invest, ‘namely the purchase of a capital asset of any kind out of income’ (Keynes 19 36 ... persistent theme in thework of Victoria Chick (e.g. 19 83, 2000). For example, there is a definitive expo-sition of Keynes s (19 36) use of demand and supply analysis in Chick (19 83:62– 81) . The author...