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Not long ago, Republicans were trying to pass a balanced budget amendment to the constitution. Democrats were skeptical, overwhelmingly Keynesian, and believed that deficit spending had ended the Great Depression. Under Rubinomics the positions began to switch: Democrats became the defenders of...
Persistent link: https://www.econbiz.de/10014591468
on Keynes's place in its history, suggesting that these stem from a particular and debatable understanding of how the … subdiscipline has evolved. It considers some implications for today's awkward economic facts of aspects of Keynes' General Theory … that the questions about co-ordination that Keynes addressed, not to mention some of his answers, are well worth revisiting. …
Persistent link: https://www.econbiz.de/10009447272
This paper provides an analysis of Keynes's original Bancor proposal as well as more recent proposals for fixed …
Persistent link: https://www.econbiz.de/10010266537
Recently, national newspapers all over the world have suggested that we should reread John Maynard Keynes, and that … Hyman P. Minsky provides a valuable framework for understanding the world in which we live. While rereading Keynes and … interpretation and implementation of Keynes's ideas have been very different from what Keynes proposed, and they have been reduced to …
Persistent link: https://www.econbiz.de/10010266570
One of Keynes' core issues in his liquidity preference theory is how fundamental uncertainty affects the propensity to …
Persistent link: https://www.econbiz.de/10010267088
discards claims recently made in the literature concerning the importance of output heterogeneity for Keynes's macroeconomic …
Persistent link: https://www.econbiz.de/10010277731
Right-wing critics of Keynes have often suggested that he was a socialist. His policy proposals were very often … described as a slippery slope that would lead society into a totalitarian nightmare. Alternatively, from the left, Keynes was … exploitative system. The scholarship on Keynes also remained divided. However, in the last few decades a more robust position in …
Persistent link: https://www.econbiz.de/10014546886
line, as Palley suggests. Additionally, I highlighted the distinction between Keynes' economics and Keynesian economics …
Persistent link: https://www.econbiz.de/10014633247
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
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