The Keynesian multiplier effect is reinterpreted and several issues that may have misled assessments of the effect of … multiplier effect ; public works ; unemployment benefits ; national income accounting …

We propose a microeconomic foundation of the multiplier effect and that of the consumption function using a dynamic … demand through a multiplier-like process but that the implication is quite different. It works through not an increase in … consumption function ; multiplier effect ; Keynesian Cross ; persistent unemployment ; aggregate demand …