Showing 1 - 10 of 13
In one of the most famous passages of the economic literature, John Maynard Keynes likens the stock market to a beauty … been attempts at investigating the BC experimentally. We argue that there exist important differences between Keynes' and … differences, Keynes' theory of decision under uncertainty is central to understanding the actual behaviour observed in …
Persistent link: https://www.econbiz.de/10009219641
certain features of Keynes's thought, triumphed at the end of the 1960s. This paper presents a general assessment of the …'s reading of Keynes. In many places, Friedman stresses the convergences between his vision and Keynes's, as against the latter …
Persistent link: https://www.econbiz.de/10009219649
devices suggested by Keynes. The inroduction of this type of mathematical models in the framework of Keynesian macro … consequences of Keynes-Tinbergen debate on the role of econometrics is here assessed on the basis of unpublished documental … evidence. Although most of the econometricians took sides with tinbergen against Keynes's scepticism on the use of formal …
Persistent link: https://www.econbiz.de/10009219701
-LL) approach. Hicks's treatment of the supply side Keynes's reaction to the different SI-LL models later developments of SI-LL by … indeed represent a faithful rendition of the analytical core of Keynes's General Theory and does belong more to the Marshall-Pigou-Keynes …
Persistent link: https://www.econbiz.de/10009221587
Keynes in his General Theory. Keynes, it is argued, gave involuntary unemployment a modern micro-founded definition yet … proxy of demand-deficiency falls. My paper evaluates whether Keynes's other arguments in favour of involuntary unemployment …
Persistent link: https://www.econbiz.de/10009221630
Keynes's economic thought underwent a major transition during the course of his life; in recent years a debate has … arisen over whether Keynes's philosophical thought underwent a similar transition. This paper argues that, despite the … existence of significant continuities, Keynes's philosophical thinking did undergo a major change, and specifically that this …
Persistent link: https://www.econbiz.de/10009221642
discontinuity, the conceptual structures of Marshall's and Keynes' conceptions of the determinants of investment are analysed and …
Persistent link: https://www.econbiz.de/10005505389
In this paper I evaluate the logical consistency of Patinkin's claim that involuntary unemployment can result from slow speed of adjustment. I argue that Patinkin's argument is flawed because of an unjustified breach of continuity in the trade technology assumption between the microeconomic and...
Persistent link: https://www.econbiz.de/10005505405
The present paper argues that Keynes's theory of aggregate employment assumes perfect competition (understood as price … capital-goods. The degree of competition, to which Keynes makes a single cryptic reference, refers to the social and … institutional obstacles to the free movement of resources, associated mainly with closed shops of entrepreneurs and workers. Keynes …
Persistent link: https://www.econbiz.de/10005505425
College. Moreover, the relationship with his fellow economists in Cambridge, in particular Keynes, Kahn, Kaldor and Joan …
Persistent link: https://www.econbiz.de/10005505430