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Keynes’s IS-LM model in the General Theory, defined in (r,Y) space and contained in chapter 21 in Part IV on pp. 298 … uncertainty into the P(expected economic profits-Z) and p(expected economic prices-D)terms. Keynes explicitly derived Y from his …. The second derivation occurs in chapter 20 on p.283 in fts. 1 and 2 of the General Theory. Keynes then integrates the …
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F. Modigliani presented a special case of Keynes's General Theory result in 1944 in his “Liquidity Preference and the … Keynes's chapter 15 IS-LM model with microeconomic foundations in the theory of the firm that included a production function … and labor market. Modigliani overlooked the fact that Keynes had already done exactly that in his chapters 20 and 21 of …
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Patinkin came very, very close in 1987 to discovering for himself that Keynes,not Hicks, was the creator and developer … of IS-LM. Unfortunately, he stopped his analysis right at the point where he could have established Keynes's priority … over Hicks.On pp.180-181 in chapter 14 of the GT,Keynes dealt with the classical and neoclassical theory of the rate of …
Persistent link: https://www.econbiz.de/10012954371
J M Keynes engaged in correspondence over the IS-LM model contained in chapter 15 of the General Theory with R. Harrod … and J Hicks in 1937. Keynes had no major objections. How could he? How could Keynes object to interpretations concerning … his own model of IS LM in the General Theory, as laid out by Keynes explicitly in chapter 15 of the General Theory …
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