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New Keynesianism and Aggregate Economic Activity

Lindbeck, A. - Institutet för Näringslivsforskning (IFN) - 1997

This paper addresses various attempts by so-called new Keynesians, writing mainly in the 1980s and 1990s, to strengthen the analytical basis, in particular the microeconomic foundations, of these assertions. What, exactly, have then the new Keynesians accomplished, and how should their...

Persistent link: https://www.econbiz.de/10005639306

Friedman's Nobel Lecture reconsidered

Forder, James - Department of Economics, Oxford University - 2008

In his Nobel lecture, Friedman built on his earlier argument for a 'natural rate of unemployment' by painting a picture of an economics profession which, as a result of foolish mistakes, had accepted the Phillips curve as offering a lasting trade-off between inflation and unemployment and were...

Persistent link: https://www.econbiz.de/10005051154

Liquidity Preference Theory Revisited—To Ditch or to Build on It?

Bibow, Joerg - EconWPA - 2005

This paper revisits Keynes’s liquidity preference theory as it evolved from the Treatise on Money to The General Theory and after, with a view of assessing the theory’s ongoing relevance and applicability to issues of both monetary theory and policy. Contrary to the neoclassical “special...

Persistent link: https://www.econbiz.de/10005126066

Keynesian Theorizing During Hard Times: Stock-Flow Consistent Models as an Unexplored 'Frontier' of Keynesian Macroeconomics

Santos, Claudio H. Dos - EconWPA - 2004

unexplored with the end of Keynesian academic hegemony. The representative views of Davidson, Godley, Minsky, and Tobin as …

Persistent link: https://www.econbiz.de/10005126074

A Hands-off Central Banker? Marriner S. Eccles and the Federal Reserve Policy, 1934-1951

Vernengo, Matias - Department of Economics, University of Utah - 2006

Marriner Eccles is often seen as an early defender of Keynesian ideas. In that respect, it is generally accepted that he considered monetary policy of secondary importance, and that as a result he allowed the Federal Reserve to be submitted to the interests of the Treasury. In this view, the...

Persistent link: https://www.econbiz.de/10005265196

Axel Leijonhufvud and the Quest for Micro-foundations -- Some Reflections

Laidler, David - University of Western Ontario, Economic Policy Research … - 2006

analysing the disequilibrium dynamics of markets in which trade at non-market clearing prices would occur, was not that …

Persistent link: https://www.econbiz.de/10005212379

THE GREAT DIVIDE? KEYNES AND FRIEDMAN ON EMPLOYMENT POLICY

Rivot, Sylvie - In: Cahiers d’économie politique / Papers in Political … (2012) 62, pp. 223-251

This paper considers the economic policy advocated by Keynes and Friedman in relation to their particular theoretical framework. They have in common an opposition to fine-tuning of the economy. With regard to the contrasting strategies of rules versus discretion, both would be advocates of...

Persistent link: https://www.econbiz.de/10010550865

Kalecki était-il keynésien avant Keynes ?

Assous, Michaël - In: Revue économique 57 (2006) 2, pp. 165-183

prices. Thus, Patinkin to the contrary, it is suggested we can give Kalecki credit for anticipating part of the essential …In a closely argued book, Patinkin [1982] has concluded that Michal Kalecki did not anticipate the General Theory. The …. Focused on Kalecki?'s 1934, article, that Patinkin did not know, this study shows: i) that Kalecki set out a static …

Persistent link: https://www.econbiz.de/10008578748

Solow’s Harrod: Transforming Cyclical Dynamics into a Model of Long-run Growth

Halsmayer, Verena; Hoover, Kevin D. - Center for the History of Political Economy - 2013

Modern growth theory derives mostly from Robert Solow’s “A Contribution to the Theory of Economic Growth” (1956). Solow’s own interpretation locates the origins of his “Contribution” in his view that the growth model of Roy Harrod implied a tendency toward progressive collapse of the...

Persistent link: https://www.econbiz.de/10010671579

Was Harrod Right?

Hoover, Kevin D. - Groupe de REcherche en Droit, Économie, Gestion … - 2013

Persistent link: https://www.econbiz.de/10010691213