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Reconciling Jaimovich-Rebelo preferences, habit in consumption and labor
Holden, Tom D.; Levine, Paul; Swarbrick, Jonathan M. - 2018
This note studies a form of a utility function of consumption with habit and leisure that (a) is compatible with long-run balanced growth, (b) hits a steady-state observed target for hours worked and (c) is consistent with micro-econometric evidence for the inter-temporal elasticity of...
Persistent link: https://www.econbiz.de/10011864588
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Testing the Keynesian consumption hypothesis on European panel data
Ianole, Rodica; Druică, Elena - In: Revista română de economie 40 (2015) 1, pp. 49-71
Persistent link: https://www.econbiz.de/10011545624
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Equity Premium Puzzle : The Puzzle of the Keynes’ Consumption Multiplier
McPherron, Pat - 2017
There are two optimality conditions in the M & P model of 1985. If the constant relative risk aversion is unity (log utility consumption), then correcting for risk-free rates that are “too low” will not prevent the equity optimality condition from seeming “too high” for observable...
Persistent link: https://www.econbiz.de/10012964430
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Privatized Keynesianism or conspicuous consumption? : status anxiety and the financialization of consumption in Chile
González, Felipe - 2017
, die sowohl die Trickle-down-Theorie als auch die Theorie des privatisierten Keynesianismus bei diesem Thema entfalten …
Persistent link: https://www.econbiz.de/10011622484
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Fiscal Stimulus of Consumption and the Keynesian Black Hole
Sy, Wilson N. - 2016
potential collapse into a Keynesian economic black hole. A theory of economic growth is proposed to explain how fiscal stimulus …
Persistent link: https://www.econbiz.de/10012998654
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Anti-Scroogenomics
Mathy, Gabriel - 2023 - Version of December 23, 2023
Persistent link: https://www.econbiz.de/10015050698
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Overconsumption, credit rationing and bailout monetary policy : a Minskyan perspective
Charpe, Matthieu; Flaschel, Peter; Proaño Acosta, Christian - 2009
We consider a Keynes-Goodwin model of effective demand and the distributive cycle where workers purchase goods and houses with marginal propensity significantly larger than one. They therefore need credit, supplied from asset holders, and have to pay interest on their outstanding debt. In this...
Persistent link: https://www.econbiz.de/10003861624
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Keynes’s Monetary Theory of Interest
Tily, Geoff - 2013
Now there is no part of our economic system which works so badly as our monetary and credit arrangements; none where the results of bad working are so disastrous socially; and none where it is easier to propose a scientific solution. (J. M. Keynes: Speech to the Liberal Party, December 1923, The...
Persistent link: https://www.econbiz.de/10013090850
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A Simplified, Graphical Exposition of Keynes's Argument on Pages 179-181 of the General Theory About the Equation Missing from the Neoclassical Theory of the Rate of Interest
Brady, Michael Emmett - 2018
Keynes provided a technical analysis on pages 179-181 of the General Theory that identified two separate rates of … economists to carefully analyze Keynes's analysis on pages 179-181 of the General Theory accounts for the misbelief that Keynes …'s theory of the rate of interest was a purely monetary theory of the rate of interest, although Keynes made it very clear to …
Persistent link: https://www.econbiz.de/10012926784