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Persistent link: https://www.econbiz.de/10012199560
The purpose of this chapter is to portray a mode of inquiry into expectations by three Cambridge authors in which the expectations are not conceptualized or modelled on the basis of a probability distribution. As to whether this is due to a clearly stated opposition (as in the case of Keynes) or...
Persistent link: https://www.econbiz.de/10012199562
The paper investigates Champernowne's 1936 attempt to sort out the debate between Pigou (The theory of unemployment. Macmillan, London, 1933) and Keynes (The general theory of employment, interest and money. Macmillan, London, 1936) about employment determination. Champernowne agreed with Keynes...
Persistent link: https://www.econbiz.de/10012199563
The Phillips curve has been in the focus of many key debates in macroeconomics ever since Samuelson and Solow (1960) modified the original curve in linking the unemployment rate to the inflation rate. This essay analyzes the links of the modern discussion to the debates over time highlighting...
Persistent link: https://www.econbiz.de/10012199574