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R obert W. Clower's article "The Keynesian Counter - Revolution: A Theoretical Appraisal" (1965) deeply influenced the course of Keynesian macroeconomics by contributing to the transition from IS/LM macroeconomics to fix - price theories. Des pite this influence, no scholar proposed to explain...
Persistent link: https://www.econbiz.de/10011592247
Robert W. Clower's article "A Reconsideration of the Microfoundations of Monetary Theory" (1967) deeply influenced the course of modern monetary economics. On the one hand, it revealed the deadlocks of Don Patinkin's project to integrate monetary and Walrasian value theory. On the other hand, it...
Persistent link: https://www.econbiz.de/10011613806
Before becoming the hallmark of macroeconomics à la Wynne Godley, the ‘stock-flow' analysis was already developed in microeconomics and general equilibrium theory. Basically, the goal was to study the formation of economic plans and the determination of market prices when individuals were...
Persistent link: https://www.econbiz.de/10013010079
Robert W. Clower's article “The Keynesian Counter-Revolution: A Theoretical Appraisal” (1965) deeply influenced the course of Keynesian macroeconomics by contributing to the transition from IS/LM macroeconomics to fix-price theories. Despite this influence, no scholar proposed to explain its...
Persistent link: https://www.econbiz.de/10013013618
Robert W. Clower's article “A Reconsideration of the Microfoundations of Monetary Theory” (1967) deeply influenced the course of modern monetary economics. On the one hand, it revealed the deadlocks of Don Patinkin's project to integrate monetary and Walrasian value theory. On the other...
Persistent link: https://www.econbiz.de/10012983560
Europe was where research on general equilibrium models with rationing (GEMR) gained traction. The goal of our article is to explain how and why. We show that research on GEMR took off and developed in France and Belgium from the mid-1970s before expanding all around Europe. We also show that...
Persistent link: https://www.econbiz.de/10013291896
Before becoming the hallmark of macroeconomics à la Wynne Godley, the 'stock-flow' analysis was already developed in microeconomics and general equilibrium theory. Basically, the goal was to study the formation of economic plans and the determination of market prices when individuals were...
Persistent link: https://www.econbiz.de/10011600496