Showing 1 - 10 of 96
expectations, without putting the guarantee to test. This paper presents a detailed treatment of Domar's stabilization plan in the …Evsey Domar put forward in a couple of articles in the 1940s a "guaranteed income growth proposal." For the first time … in macroeconomics, economic policy was supposed to work merely through the impact of its announcement on expectations. He …
Persistent link: https://www.econbiz.de/10012257524
economic growth - have been often ascribed to H arrod's and Domar's proposition that the rate of growth is the product of the … (Lewis, Hirschman, Rostow and others) were aware that Harrod's and Domar's growth models addressed economic instability based …
Persistent link: https://www.econbiz.de/10011600579
The paper investigates the role played by Friedman’s interpretation of the Brazilian inflation in his 1967 formulation of the natural rate hypothesis and in his 1976 discussion of indexation and other institutional arrangements in the face of chronic inflation. It is argued that, as an...
Persistent link: https://www.econbiz.de/10011890130
Samuelson and Solow in their 1960 paper in the American Economic Review: Papers and Proceedings were among the first economists to engage with Phillips' famous unemployment/wage-inflation analysis, now referred to as the Phillips curve. They addressed the question of the relevance of Phillips's...
Persistent link: https://www.econbiz.de/10010510926
The paper discusses Evsey Domar's role as a link between economics in the West and in Russia. The Russian heritage he … attention to the 1947 Varga controversy in the USSR. Domar's rediscovery of Feldman's (1928) growth model in 1957 brought it to … called attention to TuganBaranovsky's 1915 book on the topic. Domar's interest in history resulted in his 1970 hypothesis …
Persistent link: https://www.econbiz.de/10012515223
The paper investigates Evsey's Domar's introduction of the rate of growth as a variable in economics in the 1940s and … 1950s . Domar investigated the nature of what he called the "moving equilibrium" of ec onomic processes with infinite … duration. Reactions to Domar' s approach at the time brought about methodological assertions on the distinction between models …
Persistent link: https://www.econbiz.de/10011600630
The Pigou effect was conceived to counter Keynes’s argument that a competitive economy could remain in the state of high unemployment. Before he introduced this idea, Pigou had debated with Keynes the same question of whether an economy has the tendency to recover full employment. He lost in...
Persistent link: https://www.econbiz.de/10011642553
The transcript of a panel discussion marking the fiftieth anniversary of John Muth's "Rational Expectations and the … of issues related to the rational-expectations hypothesis, including: its history, starting with Muth's work at Carnegie …
Persistent link: https://www.econbiz.de/10011603748
A.W.H. Phillips is little known to the economics profession today, except at the creator of the Phillips curve. Bollard's engaging biography tells the story of a provincial New Zealander and practical engineer, who emerges as a hero in World War II, and plots a spectacular rise from 3rd class...
Persistent link: https://www.econbiz.de/10011610247
disentangled his 1965 "efficient market hypothesis" from rational expectations and claimed that the former should form one of the …
Persistent link: https://www.econbiz.de/10012003226