disparate traditions. I make the case for unity between Post-Keynesian and General Equilibrium Theory under the banner of Post …-Keynesian Dynamic Stochastic General Equilibrium Theory …

(crunches, freezes, crises) in theory, and as recently observed in actual economies …

virtually absent. The paper provides a critique of the transactions based approach to monetary theory, and sketches a general … equilibrium formulation of the theory. The paper traces out some of the policy implications of the theory. We show that certain …

developments in the micro-economic theory of imperfect information. These micro-economic models which lead to credit-rationing on …

This paper, after providing a critique of standard monetary theory based on the transactions demand for money, examines … the effect of monetary policy (changes in reserve requires and open market operations) in a model with competitive, risk … averse banks. The effects of changes in bank net worth and bank's risk perceptions are also analyzed. In deep recessions …

-generating strategy typically lowers the fund's risk-adjusted excess return due to frictions such as price pressure. When the manager is … via both management and incentive fees, we show that (i) the high-powered incentive fees encourage excessive risk taking … sufficiently poor fund performances substantially curtail managerial risk-taking, provide strong incentives to de-leverage, and …