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Clower's about-face regarding the "Keynesian Revolution"
Plassard, Romain - 2015
Robert W. Clower's article "The Keynesian Counter - Revolution: A Theoretical Appraisal" (1965) deeply influenced the course of Keynesian macroeconomics by contributing to the transition from IS/LM macroeconomics to fix - price theories. Des pite this influence, no scholar proposed to explain...
Persistent link: https://www.econbiz.de/10011602774
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Observing shocks
Duarte, Pedro Garcia; Hoover, Kevin D. - 2011
Shock is a term of art that pervades modern economics appearing in nearly a quarter of all journal articles in economics and in nearly half in macroeconomics. Surprisingly, its rise as an essential element in the vocabulary of economists can be dated only to the early 1970s. The paper traces the...
Persistent link: https://www.econbiz.de/10011603670
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Between Pigou and Keynes : champernowne on employment and expectations
Boianovsky, Mauro - 2017
The paper investigates Champernowne's 1936 attempt to sort out the debate between Pigou (1933) and Keynes (1936) about … employment determination. Champernowne agreed with Keynes that workers can only bargain for a money-wage, but argued that, to the …
Persistent link: https://www.econbiz.de/10011760014
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Disequilibrium as the origin, originality, and ambivalences of Clower's microfoundations of monetary theory
Plassard, Romain - 2016
. Lucas (1980), one of the most widely used approaches to monetary theory since the 1980s. Despite this influence, there is no …
Persistent link: https://www.econbiz.de/10011609470
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Geoffrey Colin Harcourt (1931-2021) : a Cambridge economist from Down Under
Boianovsky, Mauro - 2022
The paper offers a view of Geoff Harcourt’s – b. 1931 in Melbourne; d. 2021 in Sydney – life trajectory as an Australian economist educated and active in the Cambridge UK tradition. His main contributions – to the Cambridge capital debates, history of economic thought and post-Keynesian...
Persistent link: https://www.econbiz.de/10013207020
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How Friedman and Schwartz became monetarists
Lothian, James R.; Tavlas, George S. - 2016
During the late-1940s and the early-1950s Milton Friedman favored a rule under which fiscal policy would be used to generate changes in the money supply with the aim of stabilizing output at full employment. He believed that the economy is inherently unstable because of endogenous movements in...
Persistent link: https://www.econbiz.de/10011606920
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James Tobin and modern monetary theory
Dimand, Robert W. - 2014
This paper examines the relationship of the monetary economics of James Tobin to modern monetary theory, which has diverged in many ways from the directions taken by Tobin and his associates (for example, moving away from multi‐asset models of financial market equilibrium and from monetary...
Persistent link: https://www.econbiz.de/10011639321
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From a treatise on money to the general theory : John Maynard Keynes' departure from the doctrine of forced saving
Wong, Crystal Ho Po - 2013
I examine John Maynard Keynes' struggle with the doctrine of the classical forced saving during the period 1924 … classical school. I primarily focus on the role of discussion and criticism in the development of Keynes' thought. I investigate … what led John Maynard Keynes to completely abolish ideas related to forced saving and place his emphasis on effective …
Persistent link: https://www.econbiz.de/10011707330
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Who is (your) Geoff Harcourt? : afterword two on The Man
Cohen, Avi Jonathan - 2021
In 2022, Cambridge University Press is publishing a 50th anniversary edition of Geoff Harcourt’s Some Cambridge Controversies in the Theory of Capital. There will be two afterwords, preceded with this introduction: You have before you CUP’s 50th anniversary edition of Geoff Harcourt’s Some...
Persistent link: https://www.econbiz.de/10012543913
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In search of lost reason : Ramsey, Keynes, and the intellectualism debate
Marouzi, Soroush - 2024
rationality, however, remained intact by the war. Frank Ramsey and John Maynard Keynes produced some of their most notable works … commitment concerning what constitutes human reason and rationality. Ramsey and Keynes developed their ideas in tandem. They both … nature. Ramsey made that argument in his philosophy. Keynes made it in his economics. …
Persistent link: https://www.econbiz.de/10014515196