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Explaining the aggregate price level with Keynes's principle of effective demand
Hartwig, Jochen - 2004
is widely held that the Principle determines the levels of output and employment in a world not governed by Say's Law …
Persistent link: https://www.econbiz.de/10010285937
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A reinterpretation of the Keynesian consumption function and multiplier effect
Murota, Ryu-ichiro; Ono, Yoshiyasu - 2010
We propose a microeconomic foundation of the multiplier effect and that of the consumption function using a dynamic … demand through a multiplier-like process but that the implication is quite different. It works through not an increase in …
Persistent link: https://www.econbiz.de/10010332220
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The Keynesian multiplier effect reconsidered
Ono, Yoshiyasu - 2009
The Keynesian multiplier effect is reinterpreted and several issues that may have misled assessments of the effect of …
Persistent link: https://www.econbiz.de/10010332427
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The monetary economy and the economic crisis
Laidler, David - 2010
Adam Smith's ideas about the invisible hand, was a major contribution to an ongoing tradition in monetary theory in whose …
Persistent link: https://www.econbiz.de/10010291902
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The young Lamfalussy: an empirical and policy-oriented growth theorist
Maes, Ivo - 2009
career as an academic, focusing on growth theory and Belgian and European growth patterns in the post-war period. His work is … eclectic approach towards economics, blending economic theory and empirical data beautifully to elucidate crucial policy …
Persistent link: https://www.econbiz.de/10011506683
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The "Employment Double Dividend" of Environmental Tax Reform: An Open Question?
Kratena, Kurt - 2001
Persistent link: https://www.econbiz.de/10011435070
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Equilibrium employment in a model of imperfect labor markets
Garibaldi, Pietro; Wasmer, Etienne - 2003
, it delivers an expression for the employment rate and as side-products, a measure of the unemployment rate and the size … rationalizes differences in employment rates: in the U.S., we find a market productivity premium of +30% and market frictions of …
Persistent link: https://www.econbiz.de/10010277062
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Discretionary fiscal policy: The case of Switzerland
Frick, Andres; Graff, Michael; Hartwig, Jochen; … - 2010
Towards the end of 2009, the world economy was recovering from its deepest recession since the end of World War II. Most countries around the world took resort to fiscal policy in order to foster this recovery. In this paper, we first discuss the pros and cons of discretionary fiscal policy from...
Persistent link: https://www.econbiz.de/10010277785
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New Keynesian versus old Keynesian government spending multipliers
Cogan, John F.; Cwik, Tobias; Taylor, John B.; Wieland, … - 2009
estimated stimulus is extremely small with GDP and employment effects only one-sixth as large. …
Persistent link: https://www.econbiz.de/10011605136
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Keynesian government spending multipliers and spillovers in the euro area
Cwik, Tobias; Wieland, Volker - 2010
measures emphasize that government spending can stimulate additional private spending — the Keynesian multiplier effect. Thus …
Persistent link: https://www.econbiz.de/10011605313