Narrow search
Showing 1 - 10 of 11,434
Cover Image
Lucas, Keynes, and the crisis
Laidler, David - 2009
This paper examines Robert E. Lucas's views on the relationship of macroeconomics to real world economic phenomena, and 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...
Persistent link: https://www.econbiz.de/10003868819
Cover Image
The Macroeconomic Crisis (La Crisi della Macroeconomia)
Cozzi, Terenzio - 2012
stable equilibrium in combination with rational expectations allow the conclusion that a built-in process of quick self … equilibrium and of strong disequilibrium. Hence the paper ends with the proposal to utilize a number of sub-models each one of …
Persistent link: https://www.econbiz.de/10013114759
Cover Image
Identification of animal spirits in a bounded rationality model: An application to the euro area
Jang, Tae-Seok; Sacht, Stephen - 2012
In this paper we empirically examine a heterogeneous bounded rationality version of a hybrid New-Keynesian model. The model is estimated via the simulated method of moments using Euro Area data from 1975Q1 to 2009Q4. It is generally assumed that agents' beliefs display waves of optimism and...
Persistent link: https://www.econbiz.de/10010310636
Cover Image
The Heterogeneous State of Modern Macroeconomics : A Reply to Solow
Chari, Varadarajan V. - 2008
Robert Solow has criticized our 2006 Journal of Economic Perspectives essay describing Modern Macroeconomics in Practice. Solow eloquently voices the commonly heard complaint that too much macroeconomic work today starts with a model with a single type of agent. We argue that modern...
Persistent link: https://www.econbiz.de/10012770982
Cover Image
Mr. Keynes, Prof. Krugman, IS-LM, and the End of Economics as We Know It
Kakarot-Handtke, Egmont - 2014
Krugman has recently revitalized IS-LM with a number of succinct analytical pieces on his blog. The reverberations were remarkable. Economists, however, are known often not grasp the full content of their own and, a fortiori, of others' models. This happened to Keynes in the days of high theory...
Persistent link: https://www.econbiz.de/10013059191
Cover Image
Critique of IS-LM : Fiscal Deficits, Loanable Funds, Keynesian Cross and IS-LM
Kim, Bryce - 2014
equilibrium system, and therefore loanable funds …
Persistent link: https://www.econbiz.de/10013047058
Cover Image
Microfoundation for IS-LM
Kim, Bryce - 2016
of medium of exchange, money. The core microfoundation in this model comes from the Arrow-Debreu general equilibrium …
Persistent link: https://www.econbiz.de/10012982189
Cover Image
The monetary economy and the economic crisis
Laidler, David - 2010
The monetary economy has properties that cannot be analyzed using the tools of today's dynamic general equilibrium … trading at false prices, a phenomenon ruled out by assumption in dynamic general equilibrium models. Not only Keynes …
Persistent link: https://www.econbiz.de/10010291902
Cover Image
Lucas, Keynes, and the crisis
Laidler, David - 2009
This paper examines Robert E. Lucas's views on the relationship of macroeconomics to real world economic phenomena, and 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...
Persistent link: https://www.econbiz.de/10010292008
Cover Image
The monetary economy and the economic crisis
Laidler, David E. W. - 2010
The monetary economy has properties that cannot be analyzed using the tools of today's dynamic general equilibrium … trading at "false" prices, a phenomenon ruled out by assumption in dynamic general equilibrium models. Not only Keynes … thought of as relying on this factor. -- Crises ; money ; monetary economy ; general equilibrium ; cycles ; sticky prices …
Persistent link: https://www.econbiz.de/10008655700