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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 …
Persistent link: https://www.econbiz.de/10012951951
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 …
Persistent link: https://www.econbiz.de/10012953043
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 …
Persistent link: https://www.econbiz.de/10012955766
completely worked out application of the theory of the multiplier in the EJ. Keynes delegated this task to Kahn. Kent (2007 …) demonstrated that in May 1929, Keynes had applied his logical theory of the multiplier in preparation for a speech in which he … in his application of the mathematical theory of the multiplier. Keynes privately showed Kahn sometime between May 1929 …
Persistent link: https://www.econbiz.de/10012907306
The manner in which R. Kahn presented his mathematical results on the multiplier in the Economic Journal of June, 1931, is identical to the style of presenting mathematical results used by Keynes to present his mathematical analysis starting with the A Treatise on Probability in 1921. Keynes's...
Persistent link: https://www.econbiz.de/10012907803