Showing 1 - 10 of 338
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
background of a distinction between Keynesianism as a ‘moderately conservative’ (Keynes’s words) vision about the working of the …
Persistent link: https://www.econbiz.de/10011506707
Persistent link: https://www.econbiz.de/10003963134
Keynes-Tinbergen controversy, it is argued that Keynes' criticism comprises the "Lucas critique", and that it is misleading …
Persistent link: https://www.econbiz.de/10010439367
conformity with Keynes s own analysis. Moreover, the eclectic approach to behavioral foundations allows models in this tradition …
Persistent link: https://www.econbiz.de/10011527443
Keynes's General Theory argues there is no self-regulating mechanism that guarantees full employment. Keynes's vision … imperfections are limited to the short run, so are lapses from full employment. Keynes was unable to convince the economics … is that Keynes lacked the mathematical tools to substantiate his vision. This paper deploys tools that were unavailable …
Persistent link: https://www.econbiz.de/10011866562
background of a distinction between Keynesianism as a ‘moderately conservative’ (Keynes’s words) vision about the working of the …
Persistent link: https://www.econbiz.de/10011596982
The potted histories of macroeconomics textbooks are typically Keynes-centric. Keynes is credited with founding … classical macroeconomics) to Keynes. The real story is more complicated and involves at least two distinct threads. Keynes was … central. Keynes's vision of macroeconomics is better described as "medical." It is based in human psychology and individual …
Persistent link: https://www.econbiz.de/10011708002
Macroeconomic theory has developed into increasingly sophisticated mathematical models. In the words of Mankiw, macroeconomics has developed from engineering into science. The Global Financial Crisis (GFC) revealed that the empirical relevance and the usefulness of these models is debatable. Why...
Persistent link: https://www.econbiz.de/10012211109