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aggregate income ,Y, in order to support the existing classical (neoclassical ) theory of the rate of interest in (r;I,S ) space …, is very similar to Pigou's assumption of ceteris paribus in his 1933 The Theory of Unemployment, so that he could apply … his Marshallian apparatus of partial equilibrium. Keynes's main point in the appendix to Chapter 19 of his General Theory …
Persistent link: https://www.econbiz.de/10012840000
the imprecise theory of probability long before Koopman's work in 1940 or the work of I. J. Good, C. Smith ,or H.E. Kyburg …
Persistent link: https://www.econbiz.de/10012842021
F. Modigliani presented a special case of Keynes's General Theory result in 1944 in his “Liquidity Preference and the … Theory of Interest and Money”. Modigliani sought to provide the IS-LM model of Hicks's 1937 Econometrica interpretation of … Keynes's chapter 15 IS-LM model with microeconomic foundations in the theory of the firm that included a production function …
Persistent link: https://www.econbiz.de/10012951951
A. Hansen's gross error concerning J M Keynes's analysis in chapter 14 on pp. 180-181 of the General Theory in his A … students who, instead of reading the General Theory, read Hansen's A Guide to Keynes instead. Hansen's book then became … accepted in the economics profession as the correct assessment of Keynes's General Theory. Hansen did an excellent job in …
Persistent link: https://www.econbiz.de/10012953342
over Hicks.On pp.180-181 in chapter 14 of the GT,Keynes dealt with the classical and neoclassical theory of the rate of … and productivity alone. He stated that in order to have a determinant theory of the rate of interest, the state of … IS LM, in general ,outside of the fact that IS LM needed (1) a microfoundation in the theory of the firm and (2) needed …
Persistent link: https://www.econbiz.de/10012954371
J M Keynes engaged in correspondence over the IS-LM model contained in chapter 15 of the General Theory with R. Harrod … his own model of IS LM in the General Theory, as laid out by Keynes explicitly in chapter 15 of the General Theory … by Keynes within the broader framework of his Theory of Effective Demand, presented in the General Theory in chapters 3 …
Persistent link: https://www.econbiz.de/10012955766