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Money, prices, wages, and ‘profit inflation’ in Spain, the Southern Netherlands, and England during the Price Revolution era, ca. 1520 - ca. 1650
Munro, John H. - Volkswirtschaftliche Fakultät, … - 2008
Keynes had called ‘Profit Deflation’ (for him, a truly negative force), in that industrial wages rose faster than industrial …
Persistent link: https://www.econbiz.de/10005836522
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Observing the Evolution in Macroeconomic Theory
Podshivalov, Georgii G. - 2019
The principal purpose of the given work is to summarize certain observations on the evolution of thought in macroeconomic theory with the original (rather than conventional) notation where appropriate. The observations are organized by topic and supplied with respective references
Persistent link: https://www.econbiz.de/10012858506
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Zero nominal interest rates, unemployment, excess reserves and deflation in a liquidity trap
Murota, Ryu-ichiro; Ono, Yoshiyasu - 2009
We present a dynamic and monetary model that consistently explains such various phenomena as unemployment, deflation …
Persistent link: https://www.econbiz.de/10010332461
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Zero nominal interest rates, unemployment, excess reserves and deflation in a liquidity trap
Murota, Ryu-ichiro; Ono, Yoshiyasu - 2009
We present a dynamic and monetary model that consistently explains such various phenomena as unemployment, deflation … ; Deflation …
Persistent link: https://www.econbiz.de/10003921783
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Zero Nominal Interest Rates, Unemployment, Excess Reserves and Deflation in a Liquidity Trap
Ono, Yoshiyasu - 2009
We present a dynamic and monetary model that consistently explains such various phenomena as unemployment, deflation …
Persistent link: https://www.econbiz.de/10013158170
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Monetary Policy and Debt Deflation : Some Computational Experiments
Chiarella, Carl - 2013
context of debt deflation. We introduce a modified Taylor rule which includes the financial position of firms as a target …
Persistent link: https://www.econbiz.de/10013079548
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Inflation risk and the finance-growth nexus
Corhay, Alexandre; Tong, Jincheng - 2021
This paper shows that the effect of inflation on asset prices and real aggregates depends on the financial intermediation sector. When firms finance using nominal long-term debt issued by financial intermediaries, unexpected changes in inflation lead to a wealth transfer across sectors. Higher...
Persistent link: https://www.econbiz.de/10012595351
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Keynesian-Monetarist Dynamics and the Corridor
: Christian Groth - Økonomisk Institut, Københavns Universitet - 1993
The idea that for small disturbances the full employment equilibrium is stable while for large disturbances it is unstable was coined by Leijonhufvud in the notion of a "corridor". We discuss the existence of a corridor in the standard Keynesian-Monetarist textbook macro-model. It turns out that...
Persistent link: https://www.econbiz.de/10005749571
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The simple macroeconomics of fiscal austerity, public sector debt and deflation
Palley, Thomas I. - 2010
This paper explores the macroeconomics of fiscal austerity and deflation in an economy with public debt. A binding … helps maintain AD in the presence of deflation because deflation increases the real value of public interest payments. That … makes public debt significantly different from private debt. If the economy is subject to a binding deficit cap, deflation …
Persistent link: https://www.econbiz.de/10009306638
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Keynesian Dominance in Crisis Therapy
Spantig, Kristina - 2013
This paper scrutinizes the debate of Keynes and Hayek concerning the adequate re- sponse to economic crises from a historical perspective. In a first step the develop- ment of the Keynesian economic theory, its ascent during the Great Depression and its use during financially sound times is...
Persistent link: https://www.econbiz.de/10010334501