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CHAPTER 1: INTRODUCTION TO MODERN MAINSTREAM MACROECONOMIC THOUGHT VERSUS KEYNES’ VIEWS ON RECOVERIES FROM RECESSIONS -- CHAPTER 2: LITERATURE REVIEW OF MAJOR SCHOOLS OF MACROECONOMIC THOUGHT AND EMPIRICAL WORK -- CHAPTER 3: RESULTS FROM ESTIMATING AND PROJECTING TRENDS FOR RECENT RECESSIONS...
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The main task of this work is to develope a model able to encompass, at the same time, Keynesian, demand-driven, and Marxian, profit-driven determinants of fluctuations. Our starting point is the Goodwin's model (1967), rephrased in discrete time and extended by means of a coupled dynamics...
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investigates to what extent this process affects output growth and inflation in the advanced countries. A GVAR model is specified … OEF. Evidence is based on the responses to a Chinese demand shock arising from the recent fiscal stimulus program. The … multipliers are also reduced by a sizeable effect on inflation, as Chinese firms participate in international production chains …
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stability has been fostered by improved monetary policy and by associated changes in the behaviour of inflation, which has …
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energy-price shock on growth, macroeconomic stability, budget and balance of payments. The analysis shows that the expected … negative effects associated with the gas price shock have not led to a GDP loss in any of the countries studied, mainly due to …
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