Sraffa and the microfoundations of Keynes

After a brief survey of the Japanese literature on Sraffa, the author explains how his own theory of the microfoundations of Keynesian macro-economics was influenced by Sraff's view of competitive markets. This view can be interpreted that firms perceive kinked demand curves. It is emphasized that Azariadis's theory of implicit contracts can explain unemployment only if we take Sraffa's not Walras's, view of competitive market.

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Year of publication:	1998
Authors:	Negishi, Takashi
Published in:	The European Journal of the History of Economic Thought. - Taylor & Francis Journals, ISSN 0967-2567. - Vol. 5.1998, 3, p. 452-457
Publisher:	Taylor & Francis Journals
Subject:	implicit contracts \| kinked demand curve \| microfoundations of Keynesian economics \| unemployment

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Extent:	text/html
Type of publication:	Article
Source:	RePEc - Research Papers in Economics

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