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Keynes-Tinbergen controversy, it is argued that Keynes' criticism comprises the "Lucas critique," and that it is misleading …'s approach to the extreme and neglects the possibility of slowly changing structures, as conceived by Marshall. The position is …
Persistent link: https://www.econbiz.de/10010427458
Keynes-Tinbergen controversy, it is argued that Keynes' criticism comprises the "Lucas critique", and that it is misleading …'s approach to the extreme and neglects the possibility of slowly changing structures, as conceived by Marshall. The position is …
Persistent link: https://www.econbiz.de/10010439367
Persistent link: https://www.econbiz.de/10012029215
Entry for the Elgar Companion to Alfred Marshall, edited by Tiziano Raffaelli, Marco Dardi, and Giacomo Becatini …
Persistent link: https://www.econbiz.de/10010427403
This note comments briefly on Mehdad Vahabi's article on Alfred Marshall's concept of "Normal Value." It points out, in … particular, the relationship between normality and equilibrium in the context of Marshall's moving equilibrium method. …
Persistent link: https://www.econbiz.de/10010427422
This note comments briefly on Mehdad Vahabi's article on Alfred Marshall's concept of "Normal Value." It points out, in … particular, the relationship between normality and equilibrium in the context of Marshall's moving equilibrium method. …
Persistent link: https://www.econbiz.de/10010440431
Entry for "The Elgar Companion to Alfred Marshall", edited by Tiziano Raffaelli, Marco Dardi, and Giacomo Becatini …
Persistent link: https://www.econbiz.de/10010440450
The Global Crisis demonstrated to the world that Ratings Agencies had misled the public about the stability of financial institutions. The Finance literature had decided that it was impossible to have bubbles in financial markets and any surge in the stock market would be self-correcting. Recent...
Persistent link: https://www.econbiz.de/10011559672
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/10011592196
In spite of superficial similarities, the way in which uncertainty is understood as a feature of the crisis by mainstream economics is very different from Keynesian fundamental uncertainty. The difference stems from the mainstream habit of thinking in terms of a full-information benchmark, where...
Persistent link: https://www.econbiz.de/10011279472