, this missing parameter hypothesizes that Frisch's 'rocking-horse theory' of the business cycle is an inaccurate description …

economic theory, because he used the term 'rules' not in the meaning of a formal brilliantly designed notion. He definitely … made a distinction between non-rigidly-fixed-rules and discretion. I give an explanation why his economic theory is not …

The multiplier theory is still an important analytical tool in many macroeconomic textbooks. For example, a number of … textbook authors use the theory to explain the process of growth in goods market by expanding the multiplier process into a …¡¯s deduction of the "monetary transmission mechanism", and then analyze the main problems and discuss the multiplier theory …

This paper revisits Keynes’s liquidity preference theory as it evolved from the Treatise on Money to The General Theory … and after, with a view of assessing the theory’s ongoing relevance and applicability to issues of both monetary theory and … policy. Contrary to the neoclassical “special case” interpretation, Keynes considered his liquidity preference theory of …