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Heise, Arne - 2024

line, as Palley suggests. Additionally, I highlighted the distinction between Keynes' economics and Keynesian economics …

Persistent link: https://www.econbiz.de/10014633247

Robust Control and Persistence in New Keynesian Monetary Policy Analysis

Paetz, Michael - 2007

This thesis investigates the consequences of model uncertainty and persistence in consumption habits and price-setting behaviour in a New Keynesian model.As the decision of a central bank is made in an uncertain environment, the analysis of uncertainty is essential in monetary policy models. In...

Persistent link: https://www.econbiz.de/10009449715

Reasons for the Demise of Interest: Savings Glut and Secular Stagnation or Central Bank Policy?

Mayer, Thomas; Schnabl, Gunther - 2019

In this paper we compare the Keynesian, neoclassical and Austrian explanations for low interest rates and sluggish growth. From a Keynesian and neoclassical perspective low interest rates are attributed to ageing societies, which save more for the future (global savings glut). Low growth is...

Persistent link: https://www.econbiz.de/10012179753

Monetary policy, financial regulation and financial stability: A comparison between the Fed and the ECB

Schnabl, Gunther; Sonnenberg, Nils - 2020

The paper analyses in light of Austrian and Keynesian economic theory the impact of conventional and unconventional monetary policies as therapies for financial crises. It compares the financial market stabilization measures of the Federal Reserve System and the European System of Central Banks...

Persistent link: https://www.econbiz.de/10012197951

Have Macroeconomic Models Lost Their Connection with Economic Reality?

van Veen, Tom - 2020

Macroeconomic theory has developed into increasingly sophisticated mathematical models. In the words of Mankiw, macroeconomics has developed from engineering into science. The Global Financial Crisis (GFC) revealed that the empirical relevance and the usefulness of these models is debatable. Why...

Persistent link: https://www.econbiz.de/10012214167

Unemployment: Walras's Voluntary and Keynes's Involuntary

Davar, Ezra - 2015

This paper shows that Keynes's involuntary unemployment derived from Walras's voluntary unemployment by means of …

Persistent link: https://www.econbiz.de/10012232295

The Transfer and Adjustment Problems in the Balkans

Gligorov, Vladimir - 2016

out while accumulated foreign debts need to be financed from increased exports? Keynes and Ohlin, primarily, debated an …

Persistent link: https://www.econbiz.de/10012311514

The incommensurability, incompatibility and incomparability of Keynes's and Walrasian economics

Heise, Arne - 2021

Keynes's revolutionary ideas exposed in the General Theory have been 'lost in translation'. This brief note is an attempt to … reconcile Pernecky and Wojick's claim that Keynes's new economics of the General Theory and Walrasian General Equilibrium are …'s appraisal of Keynes's paradigm as a better approximation to the 'real world' than Walsrasian General Equilibrum is inconsistent …

Persistent link: https://www.econbiz.de/10012416693

GARCH analyses of risk and uncertainty in the theories of the interest rate of Keynes and Kalecki

Gabrisch, Hubert - 2021

theories of Keynes and Kalecki. While Keynes stated that the future of the rate of interest is uncertain because it is …-form GARCH-in-mean model assigned to six globally leading financial markets. The obtained results support Keynes's theory - the …

Persistent link: https://www.econbiz.de/10012616338

Peter Howitt: A Keynesian still in recovery

Laidler, David E. W. - 2022

Peter Howitt is best known for his contributions to growth theory, but his work in short- run economics, which began with his Ph.D thesis and still continues, is important and deserves attention. It lies firmly in the Keynesian macro-disequilibrium tradition of Clower and Leijonhufvud, and for a...

Persistent link: https://www.econbiz.de/10014278230