disequilibrium are considered to be the crucial cause of market failure in the Walrasian economy. The Walrasian price mechanism … stochastic general equilibrium models are unnecessary and impossible. Second, Keynes’ unemployment equilibrium is realized due to … market failure in the Walrasian economy. Therefore, involuntary unemployment is caused not by the price aspect but by …

elements of the paradigm. A model is developed to determine output, unemployment and price level changes. Finally, the paper …

This paper juxtaposes the policy trend towards price stability with the theoretical optimal quantity of money. After … inflation. …

unemployment", compared to the keynesian project of a general theory which would marginalize the classical cases. This neo … [mally adopted a theory of structural unemployment with classical properties. …

Lucas (1972) was a paper that permanently changed the course of macroeconomics, even though its "money supply surprise … unfortunate side effect of this has been that, because mainstream models have no analytic room for money to play a key role in …

We revisit the role of long-term nominal corporate debt for the transmission of inflation shocks in the general … importance of corporate leverage in the transmission of inflation shocks to real activity in their framework is 6 times larger …

unemployment. Our model succeeds in replicating the empirical fact of a downward sloping Phillips curve for low inflation rates and …, when inflation exceeds a certain threshold, money is too costly to hold, which results in a decrease in output and an …We develop a dynamic general equilibrium model to analyze the relationship between monetary policy, money demand, and …

How are inflation and unemployment related in the long run? Are they negatively correlated, as in the so-called naive … in his Nobel lecture? In this paper inflation is introduced into a general equilibrium search unemployment model. We show … of inflation. …