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A view on post-Keynesian interest rate policy
Argitis, Giorgos - In: European Journal of Economics and Economic Policies: … 8 (2011) 1, pp. 91-112
the reaction of post-Keynesian economists to examine alternatives to inflation-targeting monetary strategies and to Taylor … rentiers’ interest income in a money/debt-using and demand determined economy. The ultimate objective of this model is to …
Persistent link: https://www.econbiz.de/10011133342
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Unemployment: natural rate epicycles or hysteresis?
Cross, Rod - In: European Journal of Economics and Economic Policies: … 11 (2014) 2, pp. 136-148
This paper argues that the natural rate of unemployment hypothesis, in which equilibrium unemployment is determined by …, equilibrium unemployment is haunted by hysteresis. The curious history of the natural rate hypothesis is considered, curious … evidence regarding hysteresis effects on output and unemployment is then reviewed. …
Persistent link: https://www.econbiz.de/10011133346
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Macroeconomics before microeconomics : a sceptic's guide to macroeconomics
Milgate, Murray; Eatwell, John - In: Pasinetti and the classical Keynesians : nine …, (pp. 157-186). 2021
Persistent link: https://www.econbiz.de/10013198819
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Chapter 22. The New Keynesian Approach to Dynamic General Equilibrium Modeling: Models, Methods and Macroeconomic Policy Evaluation
Schmidt, Sebastian; Wieland, Volker - In: Handbook of computable general equilibrium modeling : …, (pp. 1439-1512). 2013
This chapter aims to provide a hands-on approach to New Keynesian models and their uses for macroeconomic policy analysis. It starts by reviewing the origins of the New Keynesian approach, the key model ingredients and representative models. Building blocks of current-generation dynamic...
Persistent link: https://www.econbiz.de/10014025269
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Monetary growth with disequilibrium : a non-Walrasian baseline model
Ogawa, Shogo - In: Structural change and economic dynamics : SC+ED 62 (2022), pp. 512-528
Persistent link: https://www.econbiz.de/10013534080
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ALTERNATIVE VIEWS ON MONEY IN THE FIRST HALF OF THE XX CENTURY AND TODAY
Brivers, Ivars - In: Equilibrium 9 (2014) 4, pp. 153-162
The paper deals with the discussion on the alternative ideas on money, created by Silvio Gesell, Frederic Soddy and … proposals on money, which may be useful to specialists and students, investigating monetary and financial systems. …
Persistent link: https://www.econbiz.de/10011274734
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Chapter 36 Agent-Based Macro
Leijonhufvud, Axel - In: Handbook of computational economics : volume 2, …, (pp. 1625-1637). 2006
Acceptance of computer modeling and experimentation has spread slowly at best in economics in large part because agent-based models often seem foreign to the neoclassical core of economics, as that core is understood today. But in its beginnings neoclassical economics was not built from choice...
Persistent link: https://www.econbiz.de/10014024369
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Probability of survival in a random exchange economy with dependent agents
Hashimzade, Nigar - In: Economic Theory 21 (2003) 4, pp. 907-912
In this paper I analyze the general equilibrium in a random Walrasian economy. Dependence among agents is introduced in the form of dependency neighborhoods. Under the uncertainty, an agent may fail to survive due to a meager endowment in a particular state (direct effect), as well as due to...
Persistent link: https://www.econbiz.de/10005753193
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"Relative Movements of Real Wages and Output" : how does Keynes's 1939 essay relate to his Principle of effective demand?
Hartwig, Jochen - 2014
Keynes's essay "Relative Movements of Real Wages and Output" is widely believed to be an important amendment to his General Theory because, in this essay, Keynes relaxed his core assumption of decreasing marginal returns to labour. Non-decreasing marginal returns, however, do not sit comfortably...
Persistent link: https://www.econbiz.de/10010338133
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Should post-Keynesians make a behavioural turn?
King, John E. - In: European Journal of Economics and Economic Policies: … 10 (2013) 2, pp. 231-242
This paper deals with the relationship between post-Keynesian and behavioural economics. I begin by responding critically to Paul Davidson's claim that Keynes was the first behavioural economist. Then I discuss some recent work in behavioural macroeconomics, which reveals some important...
Persistent link: https://www.econbiz.de/10010701904