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ILO pub-WEP pub. Working paper on effects of interest rates on employment and income distribution, with particular reference to developing countries - reviews related economic theories; considers consequences of higher inflation rates in Chile and Turkey; supports the setting up of realistic...
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, the institutional and economic aspects that theory and empirical research ought to address are much more clearly defined …
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What did Keynes means by full employment? What did he mean by budgets deficits? and how did he propose to deal with the problem of what Alvin Hansen called 'secular stagnation'?
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The theme of micro-foundation of economic theory has not been adequately addressed. This is true even of those who … pioneered the area of micro-foundation of macro-economics. The great missing link in economic theory, both of micro … issues as endogenous dynamics in economic theory. The approach is rigorous and methodological. …
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