In this paper, the impact of global financial crisis on India’s Gross Domestic Product (GDP) is investigated upon in an aggregate demand framework using quarterly data for the period from Q2 of 1996 to Q1 of 2010. GDP, consumption expenditure, capital formation and export were found to be...

To study the aggregate demand for narrow and broad money for the Brazilian economy in its most recent period, 1970 to 1983, a basic model was developed. From this model, which is a restricted one, an unrestricted del was derived. Using information from both models, the unrestrited model was used...

This paper depicts the negative impact of a falling labour share caused by reduced bargaining power of workers on aggregate demand and employment. Contrary to standard New Keynesian models, the presence of consumers not participating in financial markets (rule of thumb consumers) causes an...

Marshall's notion of the representative firm can be read as a macro notion with some resemblance to Keynes' aggregative concepts. Keynes' notions of aggregate demand and aggregate supply are fashioned after Marshall's definitions of demand and supply. Keynes starts with the Marshallian...

Recent Post-Keynesian proposals for an economic policy to overcome stagnation and mass unemployment also stress the necessity of incomes policy without precisely specifying the role of such a policy. Starting from the theories of distribution by Kalecki and Kaldor this paper therefore tries to...

The last events which took place after the 1st January 2007 and Romania’s admission in the European Union imply a sustainable and continuous economic growth, in order to reduce economic and social disparities between our country, EU average and other EU members, through a mobilization of the...

I study the institution of avoiding to hire one’s school own PhD graduates for assistant professorships. I argue that this institution is necessary to create better incentives for researchers to incorporate new information in studies, facilitating the convergence to asymptotic learning of the...

Website constructions in the world have progressed at a fast pace. However, compared to the pace of development, the issue of benchmarking of the contents of official websites has not yet received adequate attention. The paper argues that with the proliferation of official websites worldwide,...