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The Monetary Economy and the Economic Crisis
Laidler, David - 2011
The monetary economy has properties that cannot be analyzed using the tools of today's dynamic general equilibrium … trading at "false" prices, a phenomenon ruled out by assumption in dynamic general equilibrium models. Not only Keynes …
Persistent link: https://www.econbiz.de/10011592187
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Appropriate fiscal policy over the business cycle: Proper stimulus policies can work
Graves, Philip E. - 2010
Fiscal policy has become quite controversial in the post-Keynesian era, the debate over the Obama stimulus package being a contentious recent example. Some pundits go so far as to take the position that macroeconomic theory has failed to meaningfully progress in terms of providing useful...
Persistent link: https://www.econbiz.de/10010270872
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Post-Keynesian dynamic stochastic general equilibrium theory
Farmer, Roger E.A. - In: European Journal of Economics and Economic Policies: … 14 (2017) 2, pp. 173-185
equilibrium framework to model the macroeconomy. But although I write from a neoclassical tradition the themes I explore in my … disparate traditions. I make the case for unity between post-Keynesian and general equilibrium theory under the banner of post …-Keynesian dynamic stochastic general equilibrium theory. …
Persistent link: https://www.econbiz.de/10014363292
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Theories of finance and financial crisis: Lessons for the Great Recession
Dodig, Nina; Herr, Hansjörg - 2015
This paper presents an overview of different models which explain financial crises, with the aim of understanding economic developments during and possibly after the Great Recession. In the first part approaches based on efficient markets and rational expectations hypotheses are analyzed, which...
Persistent link: https://www.econbiz.de/10010491264
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Financial system fragility models
Iancu, Aurel - 2011
This paper analyses two types of models: 1. Those based on assumptions of monetary and financial market equilibrium …
Persistent link: https://www.econbiz.de/10010527416
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Appropriate fiscal policy over the business cycle : proper stimulus policies can work
Graves, Philip E. - 2010
Fiscal policy has become quite controversial in the post-Keynesian era, the debate over the Obama stimulus package being a contentious recent example. Some pundits go so far as to take the position that macroeconomic theory has failed to meaningfully progress in terms of providing useful...
Persistent link: https://www.econbiz.de/10008653412
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The monetary economy and the economic crisis
Laidler, David E. W. - 2010
The monetary economy has properties that cannot be analyzed using the tools of today's dynamic general equilibrium … trading at "false" prices, a phenomenon ruled out by assumption in dynamic general equilibrium models. Not only Keynes … thought of as relying on this factor. -- Crises ; money ; monetary economy ; general equilibrium ; cycles ; sticky prices …
Persistent link: https://www.econbiz.de/10008655700
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Financial system fragility models
Iancu, Aurel - 2011
This paper analyses two types of models: 1. Those based on assumptions of monetary and financial market equilibrium …
Persistent link: https://www.econbiz.de/10010529077
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Theories of finance and financial crisis : lessons for the Great Recession
Dodig, Nina; Herr, Hansjörg - 2015
This paper presents an overview of different models which explain financial crises, with the aim of understanding economic developments during and possibly after the Great Recession. In the first part approaches based on efficient markets and rational expectations hypotheses are analyzed, which...
Persistent link: https://www.econbiz.de/10010491508
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Ownership Structure, Income Distribution, and Competitive Equilibrium: A Theory of Business Cycles, Human Capital, and Asset Returns
Dai, Quiang - 2000
capital in a capitalist society, (2) Keynes' idea of sticky wages, and (3) the existence of a competitive equilibrium with …
Persistent link: https://www.econbiz.de/10005846603