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Mr. Keynes, Prof. Krugman, IS-LM, and the End of Economics as We Know It
Kakarot-Handtke, Egmont - 2014
happened to Keynes in the days of high theory and to Krugman in these days. Keynes applied a defect formalism, which is here …
Persistent link: https://www.econbiz.de/10013059191
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On capital, saving, and investment in the twenty-first century: a reply to Hein
von Weizsäcker, Carl Christian; Krämer, Hagen M. - In: European Journal of Economics and Economic Policies: … 18 (2021) 3, pp. 303-309
With our book Saving and Investment in the Twenty-First Century: The Great Divergence (published as open access), we present a comprehensive theoretical explanation as well as empirical evidence for the phenomenon of low interest rates observed in the OECD countries and China and make various...
Persistent link: https://www.econbiz.de/10014363427
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Reflecting on the Capital Debates from Modern Perspectives : Interest Rate, Marginal Product of Capital, Equilibrium of Simultaneous Equations and Capital Intensity/Factor Remunera...
Kim, Bryce - 2014
This paper intends to present a novel perspective on the capital debates. Thomas Piketty, on his book, asserts that the capital debates were virtually meaningless and the neoclassical side won the debates, and this brought several discussions on this point. This paper does not wish to argue that...
Persistent link: https://www.econbiz.de/10013053494
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The Foundations of J M Keynes's IS-LM Model in Chapter 15 of the General Theory : Keynes's D-Z Model of Chapters 20 and 21
Brady, Michael Emmett - 2017
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
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On J M Keynes's Correspondence about His General Theory IS-LM Model with Harrod and Hicks on Their Interpretations of His IS-LM Model : Keynes Had No Major Objections Because IS-LM...
Brady, Michael Emmett - 2017
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
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Keynes Versus Robertson in 1936–1937 : Robertson’s Mathematical Illiteracy Prevented Him From Understanding Keynes’s Is-Lm(lp) Model in the General Theory
Brady, Michael Emmett - 2018
assumption at both the micro and macro levels.It was impossible for Robertson to follow Keynes's theory, even though he …
Persistent link: https://www.econbiz.de/10012909828