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-299 in Chapter 21 of the General Theory.The only two possible conclusions that explain the total failure of macroeconomists … pp.298-299 in Chapter 21 of the General Theory is (a) that they are either very poor applied mathematicians or (b) they …
Persistent link: https://www.econbiz.de/10013240922
21 of the General Theory in 1936 first presenting the model on pp.298-299 and then discussing his IS-LM model’s strengths … important if an IS-LM framework was to be a good summary of the General Theory. We then consider whether Hicks’s IS-LM framework …
Persistent link: https://www.econbiz.de/10013242376
Keynes’s IS-LM model in the General Theory, defined in (r,Y) space and contained in chapter 21 in Part IV on pp. 298 …-299 of the General Theory, was derived from the underlying D-Z model of Chapter 20 that incorporated expectations and … ASC occurs two times in the General Theory. The first derivation is contained in ft. 2 of pp. 55-56 of the General Theory …
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This book aims to showcase and advance recent debates over the extent to which undergraduate macroeconomics teaching models adequately reflect the latest developments in the field. It contains 16 essays on topics including the 3-equation New Consensus model, extensions and alternatives to this...
Persistent link: https://www.econbiz.de/10014484794
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History -- Theory -- Macroeconomics after Keynes …
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"The macroeconomic development of most major industrial economies is characterised by boom-bust cycles. Normally such boom-bust cycles are driven by specific sectors of the economy. In the financial meltdown of the years 2007-2009 it was the credit sector and the real-estate sector that were the...
Persistent link: https://www.econbiz.de/10009244486