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Phillips curve, is also assessed in the light of his own preference, which he shared with Keynes, for a pragmatic Marshallian …
Persistent link: https://www.econbiz.de/10010291906
on Keynes's place in its history, suggesting that these stem from a particular and debatable understanding of how the … subdiscipline has evolved. It considers some implications for today's awkward economic facts of aspects of Keynes' General Theory … that the questions about co-ordination that Keynes addressed, not to mention some of his answers, are well worth revisiting. …
Persistent link: https://www.econbiz.de/10010292008
on Keynes's place in its history, suggesting that these stem from a particular and debatable understanding of how the … subdiscipline has evolved. It considers some implications for today's awkward economic facts of aspects of Keynes' General Theory … that the questions about co-ordination that Keynes addressed, not to mention some of his answers, are well worth revisiting …
Persistent link: https://www.econbiz.de/10003868819
on Keynes's place in its history, suggesting that these stem from a particular and debatable understanding of how the … subdiscipline has evolved. It considers some implications for today's awkward economic facts of aspects of Keynes' General Theory … that the questions about co-ordination that Keynes addressed, not to mention some of his answers, are well worth revisiting. …
Persistent link: https://www.econbiz.de/10005039609
Phillips curve, is also assessed in the light of his own preference, which he shared with Keynes, for a pragmatic Marshallian …
Persistent link: https://www.econbiz.de/10010681093
The Fisher relation played a very different role in debates surrounding the Great Depression and the more recent Great Recession. This paper explores some of these differences, and suggests an explanation for them derived from a sketch of the idea's evolution between the two events, thus...
Persistent link: https://www.econbiz.de/10010291897
analysis. Keynes's economics, far from being an aberration in the otherwise orderly evolution of modern macroeconomics from … trading at false prices, a phenomenon ruled out by assumption in dynamic general equilibrium models. Not only Keynes …
Persistent link: https://www.econbiz.de/10010291902
Specific ideas about the Fisher relation between real and nominal interest rates and more general ideas about the nature of the central bank's duty to support the financial system in times of crisis were important to the Monetarist re-assessment of the causes of the Great Depression and what...
Persistent link: https://www.econbiz.de/10010291905
James Ahiakpor's critique of our 2002 work on the relationship between a certain 1932 Harvard Memorandum on anti-depression policies and the 1932 Harris Foundation Manifesto dealing with the same issues misses the significance of these documents, and of the relationships between them, both for...
Persistent link: https://www.econbiz.de/10010292038
The economic crisis that began in 2007 and still lingers has invited comparison with the Great Depression of the 1930s. It has also generated renewed interest in Milton Friedman and Anna Schwartz's explanation of the latter as mainly the consequence of the Fed's failure as a lender of last...
Persistent link: https://www.econbiz.de/10011390724