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Involuntary Unemployment as a Nash Equilibrium and Fiscal Policy for Full Employment
Tanaka, Yasuhito - 2021
Using two types of overlapping generations (OLG) model, we show that involuntary unemployment is in a Nash equilibrium of a game with a firm and consumers, and we can achieve full-employment by fiscal policy financed by seignorage not tax. Once we achieve it, it is maintained without government...
Persistent link: https://www.econbiz.de/10013233908
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A reinterpretation of the Keynesian consumption function and multiplier effect
Murota, Ryu-ichiro; Ono, Yoshiyasu - 2010
We propose a microeconomic foundation of the multiplier effect and that of the consumption function using a dynamic … demand through a multiplier-like process but that the implication is quite different. It works through not an increase in … consumption function ; multiplier effect ; Keynesian Cross ; persistent unemployment ; aggregate demand …
Persistent link: https://www.econbiz.de/10003981942
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Fiscal policy under long-run stagnation : a new interpretation of the multiplier effect
Murota, Ryu-ichiro; Ono, Yoshiyasu - 2015
aggregate demand deficiency. We show that an increase in government purchases boosts GDP through a multiplier process, but the …
Persistent link: https://www.econbiz.de/10010519974
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Keynes, Bastiat and the Multiplier
McGee, Robert W. - 2014
recession. It is an application of the Keynesian multiplier theory, which was expounded in Keynes' 1936 economic treatise, The … General Theory of Employment, Interest and Money. Post-1936 economic history has given the multiplier theory mixed reviews … economist and journalist. He discussed the multiplier theory in the 1840s, more than a generation before John Maynard Keynes …
Persistent link: https://www.econbiz.de/10013054153
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Fiscal Policy under Long-Run Stagnation : A New Interpretation of the Multiplier Effect
Murota, Ryu-ichiro - 2015
aggregate demand deficiency. We show that an increase in government purchases boosts GDP through a multiplier process, but the …
Persistent link: https://www.econbiz.de/10013022238
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A Reinterpretation of the Keynesian Consumption Function and Multiplier Effect
Murota, Ryu-ichiro - 2010
We propose a microeconomic foundation of the multiplier effect and that of the consumption function using a dynamic … demand through a multiplier-like process but that the implication is quite different. It works through not an increase in …
Persistent link: https://www.econbiz.de/10013142452
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Primary and secondary markets
Kakarot-Handtke, Egmont - 2012
The analytical starting point determines the course of a theoretical investigation and, ultimately, the productiveness of an approach. The classics took production and accumulation as their point of departure; the neoclassics, exchange. Exchange implies behavioral assumptions and notions like...
Persistent link: https://www.econbiz.de/10010318659
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The common error of common sense: an essential rectification of the accounting approach
Kakarot-Handtke, Egmont - Volkswirtschaftliche Fakultät, … - 2012
The present paper takes the explanatory superiority of the integrated monetary approach for granted. It will be demonstrated that the accounting approach could do even better provided it frees itself from theoretically ill-founded notions like GDP and other artifacts of the equilibrium approach....
Persistent link: https://www.econbiz.de/10011258616
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Confused confusers. How to stop thinking like an economist and start thinking like a scientist
Kakarot-Handtke, Egmont - Volkswirtschaftliche Fakultät, … - 2013
The present paper takes it as an indisputable fact that subjective-behavioral thinking leads, for deeper methodological reasons, with inner necessity to inconclusive filibustering about the agents’ economic conduct and therefore has to be replaced by something fundamentally different. The key...
Persistent link: https://www.econbiz.de/10011259277
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Income distribution, profit, and real shares
Kakarot-Handtke, Egmont - Volkswirtschaftliche Fakultät, … - 2012
This paper clarifies first the nature and significance of financial profit by applying the structural axiom set as consistent point of departure. As a crucial result the fundamental theorem of income distribution emerges. It states: profit is no factor income. Since the individual firm is blind...
Persistent link: https://www.econbiz.de/10011259400