unemployment based on the skepticism toward existing theories based on the observations of a real economy.The study reveals two … and unfeasible.Second, Keynes's unemployment equilibrium is realized owing to market failure in a macro economy. Market … failure in a macro economy shows that involuntary unemployment results from quantitative and not price aspects. In other words …

. Keynes correctly showed in the General Theory that you could not specify the rate of interest just from the supply of savings … from error by combining the IS and LM curves together to provide a consistent and coherent theory of the rate of interest … lectures in December, 1933, and included them in the 1934 draft copy of the General Theory, he refused to present this formal …

Using two types of overlapping generations (OLG) model, we show that involuntary unemployment is in a Nash equilibrium … not decrease involuntary unemployment …

unemployment. What is not commonly known is that modern "Keynesian policies" bear little, if any, resemblance to the policy …

market regularities and (ii) macroeconomic dynamics (long-term rates of growth, GDP uctuations, unemployment rates …