Keynes' theory can be interpreted as dealing with unemployment as a disequilibrium phenomenon in an essentially dynamic … when maintaining that price and wage flexibility is not a cure for unemployment, and hence there is no unemployment … markets incapable of providing for the consistency of long-term production and consumption plans. The time dimension in the …

Keynes' theory can be interpreted as dealing with unemployment as a disequilibrium phenomenon in an essentially dynamic … when maintaining that price and wage flexibility is not a cure for unemployment, and hence there is no unemployment … markets incapable of providing for the consistency of long-term production and consumption plans. The time dimension in the …

rentiers' interest income in a money/debt-using and demand determined economy. The ultimate objective of this model is to …

This paper argues that the natural rate of unemployment hypothesis, in which equilibrium unemployment is determined by … unemployment is haunted by hysteresis. The curious history of the natural rate hypothesis is considered, curious because the … regarding hysteresis effects on output and unemployment is then reviewed. …

This paper argues that the natural rate of unemployment hypothesis, in which equilibrium unemployment is determined by …, equilibrium unemployment is haunted by hysteresis. The curious history of the natural rate hypothesis is considered, curious … evidence regarding hysteresis effects on output and unemployment is then reviewed. The implications for macroeconomic policy …

rentiers’ interest income in a money/debt-using and demand determined economy. The ultimate objective of this model is to …

This paper argues that the natural rate of unemployment hypothesis, in which equilibrium unemployment is determined by …, equilibrium unemployment is haunted by hysteresis. The curious history of the natural rate hypothesis is considered, curious … evidence regarding hysteresis effects on output and unemployment is then reviewed. …

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