Herr, Hansjörg - Fachbereich Wirtschaftswissenschaften, Hochschule für … - 2013
The original Keynesian paradigm differs from the Neoclassical Synthesis and even more so from the New …-Keynesian approach. In this paper, a modern framework for the original Keynesian paradigm is presented. It will highlight the key … elements of the paradigm. A model is developed to determine output, unemployment and price level changes. Finally, the paper …