Showing 1 - 10 of 6,501
’s theoretical treatment of value and capital. It implies the abandonment of the ‘pure’ labour theory of value of the young Marx in … favour of a ‘mixed’ labour-and capital theory of value reflecting the different theoretical perspective shown by the mature … for converting quantities of labour-time in terms of money, which accounts for explicit and implicit costs, is proposed. …
Persistent link: https://www.econbiz.de/10011259412
A New Keynesian model estimated for India yields valuable insights. Aggregate demand reacts to interest rate changes with a lag of at least three quarters, with inflation taking seven quarters to respond. Inflation is inertial and persistent when it sets in, irrespective of the source. Exchange...
Persistent link: https://www.econbiz.de/10008646425
Persistent link: https://www.econbiz.de/10005037410
aspects of the model are based on the neoclassical growth theory and monetary aspects of the model are based on the cash … in the fall of the labour supply. The money holing, durable goods used at home and consumption level per household are …
Persistent link: https://www.econbiz.de/10010904403
shown that major elements of Marx’s economic theory fall in the camp of monetary analysis and the implications for Marx …’s theory of capital accumulation are derived. First, Marx’s theory of labour value has to be considered a „monetary theory of …. Money as a social representative of value, therefore, is introduced at the very beginning of Marx’s microeconomics. Marx …
Persistent link: https://www.econbiz.de/10005076655
With inflation aversion, an increase in the monetary growth rate decreases the steady-state value of capital stock, consumption, and real balance holding.
Persistent link: https://www.econbiz.de/10009246589
shown that major elements of Marx.s economic theory fall in the camp of monetary analysis and the implications for Marx ….s theory of capital accumulation are derived. First, Marx.s theory of labour value has to be considered a .monetary theory of …. Money as a social representative of value, therefore, is introduced at the very beginning of Marx.s microeconomics. Marx …
Persistent link: https://www.econbiz.de/10009327922
This paper advances a highly tractable model with search theoretic foundations for money and neoclassical growth. In …
Persistent link: https://www.econbiz.de/10005708022
This paper advances a highly tractable model with search theoretic foundations for money and neoclassical growth. In … bilateral trading, in ation depresses capital and output and has a negligible effecton welfare. (Keywords: search, money …, commerce, in ation, neoclassical production, capital accumulation, optimum quantity of money.) …
Persistent link: https://www.econbiz.de/10005771671
In this paper, we consider the determinacy of equilibrium prices, interest rate and income in an economy with liquidity constraints and capital accumulation. In particular, we show that, even though no extrinsic uncertainty effects fundamentals, under some conditions, rational expectations...
Persistent link: https://www.econbiz.de/10005008162