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rectified in the General Theory. He clearly told Hicks that it was Expected Aggregate Income, and not Actual Income, that … Theory in 1936. It is also quite impossible to view Keynes's IS-LP(LM) version as a neoclassical model.I suggest that the …'s Theory of the rate of interest was a purely monetary one. Joan Robinson's lack of even a basic understanding of pre …
Persistent link: https://www.econbiz.de/10012923296
General Theory. However, this took place only after Section Three, where Keynes had heavily criticized what he termed “…pseudo …
Persistent link: https://www.econbiz.de/10012923608
J M Keynes discussed a number of simplifications of his D-Z model in chapter 21 of the General Theory that were … these represented simplifications from his AD-AS(D-Z) model as specified in chapter 20 of the General Theory and did not … impact of uncertainty.The view that Keynes did not have any formal, mathematical models in the General Theory resulted in his …
Persistent link: https://www.econbiz.de/10012925583
A.Hansen essentially went wrong in his evaluation of Keynes's work in the General Theory (GT;1936) that dealt with the …
Persistent link: https://www.econbiz.de/10012927519
The belief that Hicks generalized Keynes's General Theory with his IS-LM model is contradicted by Keynes's own … 13 of the General Theory that only considers Keynes's initial M=L(r) model on page 168 while ignoring Keynes's own … pp. 208-209 and Section IV of Chapter 21 on pp. 298-299 of the General Theory clearly demonstrated that his analysis …
Persistent link: https://www.econbiz.de/10012927593
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