aggregate income ,Y, in order to support the existing classical (neoclassical ) theory of the rate of interest in (r;I,S ) space …, is very similar to Pigou's assumption of ceteris paribus in his 1933 The Theory of Unemployment, so that he could apply … his Marshallian apparatus of partial equilibrium. Keynes's main point in the appendix to Chapter 19 of his General Theory …

F. Modigliani presented a special case of Keynes's General Theory result in 1944 in his “Liquidity Preference and the … Theory of Interest and Money”. Modigliani sought to provide the IS-LM model of Hicks's 1937 Econometrica interpretation of … Keynes's chapter 15 IS-LM model with microeconomic foundations in the theory of the firm that included a production function …

Theory, erred in not taking into account Keynes's detailed, painstaking analysis on pp.180-182 of the General Theory, where … effective rate of interest, r1 or r2? Of course, the answer is that the neoclassical theory is unable to pick out either r1 or r …2 . The answer is indeterminate because the neoclassical theory is “… one equation short of what is required to give a …

over Hicks.On pp.180-181 in chapter 14 of the GT,Keynes dealt with the classical and neoclassical theory of the rate of … and productivity alone. He stated that in order to have a determinant theory of the rate of interest, the state of … IS LM, in general ,outside of the fact that IS LM needed (1) a microfoundation in the theory of the firm and (2) needed …

J M Keynes engaged in correspondence over the IS-LM model contained in chapter 15 of the General Theory with R. Harrod … his own model of IS LM in the General Theory, as laid out by Keynes explicitly in chapter 15 of the General Theory … by Keynes within the broader framework of his Theory of Effective Demand, presented in the General Theory in chapters 3 …

assumption at both the micro and macro levels.It was impossible for Robertson to follow Keynes's theory, even though he …