Oskar Lange’s 1938 article “The Rate of Interest and the Optimum Propensity to Consume”, is usually associated with the original IS-LM approach of the late 1930s. However, Lange’s article was not only an attempt to illuminate Keynes’s main innovations but the first part of a wide...

Solow has repeatedly called for the development of models that combine equilibrium and out-of equilibrium outcomes or what he called a macroeconomics of the medium-run. This paper recounts the history of Solow's different attempts to address this issue. It starts in early 1950s when Solow...

Oskar Lange's 1938 article "The Rate of Interest and the Optimum Propensity to Consume", is usually associated with the original IS-LM approach of the late 1930s. However, Lange's article was not only an attempt to illuminate Keynes's main innovations but the first part of a wide project that...

<title>Abstract</title> In 1933, Irving Fisher proposed an explanation for the Great Depression based on the distinction between the price level and price change effect of deflation in a context of over-indebtedness. This paper compares the debt-deflation theory of Fisher (1933) with the dynamic depression...

The aim of this paper is to focus on Kalecki’s contribution to the emergence of endogenous business cycle theories, of which Kaldor (in Kaldor 1960, pp. 177-192) is the first. More precisely, I want to demonstrate that this new type of theory is the result of a two-step process of which...

The interaction between economic growth and income distribution is examined using Kaleckian/post-Keynesian models in which there are lags in investment and in which the dynamics of income distribution between wages and profits depends on changes in power relations in both the labour market and...