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Why Was Keynes Not Awarded the Nobel Peace Prize After Writing ‘The Economic Consequences of the Peace’?
Jonung, Lars - 2021
John Maynard Keynes became world famous with the publication of The Economic Consequences of the Peace in 1919, a harsh … critique of the Versailles peace treaty. As a consequence, Keynes was nominated by German professors in economics for the Nobel … Peace Prize three years in a row, 1922, 1923 and 1924. Because Keynes was put on the shortlist of candidates, he was …
Persistent link: https://www.econbiz.de/10013230929
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Hayek, Keynes, and Modern Macroeconomics
Koppl, Roger; Luther, William J. - 2011
The Great Recession seems to be creating a change in the trend of macroeconomic thinking. Prior to the financial crisis of 2008, dynamic stochastic general equilibrium (DSGE) models dominated the macroeconomics literature without any apparent challengers on the horizon. Since then, however, we...
Persistent link: https://www.econbiz.de/10014196581
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Post-War British Economic Growth and the Legacy of Keynes
Cooley, Thomas F.; Ohanian, Lee E. - 2008
The policies used by Britain to finance World War II represented a dramatic departure from the policies used to finance earlier wars and were very different from the policies used by the United States. Britain relied much more heavily on the taxation of factor incomes. In this paper we describe...
Persistent link: https://www.econbiz.de/10014031008
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Minsky and economic policy :"Keynesianismʺ all over again?
Tymoigne, Éric (contributor) - 2008
Recently, national newspapers all over the world have suggested that we should reread John Maynard Keynes, and that Hyman P. Minsky provides a valuable framework for understanding the world in which we live. While rereading Keynes and discovering Minsky are noble goals, one should also remember...
Persistent link: https://www.econbiz.de/10003773518
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The European financial and economic crisis : alternative solutions from a (post-) Keynesian perspective
Hein, Eckhard; Truger, Achim; Treeck, Till van - 2011
The financial and economic crisis in the Euro area has revealed a number of important flaws in the economic policy framework in Europe. On the one hand, the imbalances, which have dominated European development since the introduction of the euro, are not sustainable; and this is more serious in a...
Persistent link: https://www.econbiz.de/10009530390
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Full employment : the road not taken
Tcherneva, Pavlina R. - 2014
It is common knowledge that John Maynard Keynes advocated bold government action to deal with recessions and unemployment. What is not commonly known is that modern "Keynesian policies" bear little, if any, resemblance to the policy measures Keynes himself believed would guarantee true full...
Persistent link: https://www.econbiz.de/10010251584
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Recovery and Reinvestment Act Spending at the State Level : Keynesian Stimulus or Distributive Politics?
Young, Andrew T. - 2010
We examine the US state-level pattern of American Recovery and Reinvestment Act (ARRA) spending. We relate spending to (1) Keynesian determinants of countercyclical policy, (2) congressional power and dominance, and (3) presidential electoral vote importance. We find that the ARRA is, in...
Persistent link: https://www.econbiz.de/10013138382
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Was Ireland’s Celtic Tiger Period Profit-Led or Wage-Led?
Kinsella, Stephen - 2012
This paper examines the macroeconomic performance of the Irish economy in the years leading up to the Celtic Tiger and afterward, from 1980 to 2011. The goal of the paper is to determine how a severe recession in the 1980s could be followed so quickly by the unprecedented boom years of the...
Persistent link: https://www.econbiz.de/10013113865
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Supply and Demand in Disaggregated Keynesian Economies with an Application to the COVID-19 Crisis
Baqaee, D. R. - 2020
We study supply and demand shocks in a general disaggregated model with multiple sectors, factors, and input-output linkages, as well as downward nominal wage rigidities and a zero lower bound constraint. We use the model to understand how the COVID-19 crisis, an omnibus of supply and demand...
Persistent link: https://www.econbiz.de/10012834769
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Minsky and Economic Policy : 'Keynesianism' All Over Again?
Tymoigne, Eric - 2008
Recently, national newspapers all over the world have suggested that we should reread John Maynard Keynes, and that Hyman P. Minsky provides a valuable framework for understanding the world in which we live. While rereading Keynes and discovering Minsky are noble goals, one should also remember...
Persistent link: https://www.econbiz.de/10012722815