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Economics x General Aggregative Models x Individual Economists x clear all

IYLM: a <i>General Theory</i>–compatible replacement for ISLM

Rod O’Donnell and Colin Rogers.

in Cambridge Journal of Economics

January 2016; p ublished online February 2015 .

Journal Article. Subjects: General Aggregative Models; Individual Economists; History of Economic Thought (1925 onwards). 7830 words.

The ISLM model, introduced in 1936–37 to provide interpretations of Keynes’s General Theory, subsequently emerged in its Hicks-Hansen form as the workhorse and ‘trained intuition’ of...

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Keynes and Sraffa on Own-Rates: A Present-Day Misunderstanding

Roy H. Grieve.

in Contributions to Political Economy

June 2015; p ublished online May 2015 .

Journal Article. Subjects: General Aggregative Models; Individual Economists; History of Economic Thought (1925 onwards); Money and Interest Rates. 8553 words.

Scholars, who in recent years have studied the Sraffa papers held in the Wren Library of Trinity College, Cambridge, have concluded from Sraffa's critical—though unpublished—observations on...

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Keynes's Theory of Monetary Policy: An Essay In Historical Reconstruction

Edwin Dickens.

in Contributions to Political Economy

June 2011; p ublished online March 2011 .

Journal Article. Subjects: History of Economic Thought (1925 onwards); General Aggregative Models; Individual Economists; Monetary Policy, Central Banking, and the Supply of Money and Credit; Money and Interest Rates. 4251 words.

Keynes's theory of monetary policy is composed of three concepts—namely, the investment multiplier, the marginal efficiency of capital and the interest rate. By analyzing how these three...

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Keynes's <i>Z</i> function, heterogeneous output and marginal productivity

MG Hayes.

in Cambridge Journal of Economics

September 2007; p ublished online April 2007 .

Journal Article. Subjects: Macroeconomics: Consumption, Saving, Production, Employment, and Investment; General Aggregative Models; Individual Economists; Economic Methodology. 6239 words.

Keynes was adamant that the assumption of homogeneous output and capital in macroeconomic theory is inadmissable. His aggregate supply or Z function is a generalisation of Marshall's...

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Michal Kalecki and critical realism

Therese Jefferson and John E. King.

in Cambridge Journal of Economics

September 2011; p ublished online December 2010 .

Journal Article. Subjects: General Aggregative Models; Individual Economists; Economic Methodology. 8294 words.

In this article we identify three key reasons for considering Kalecki's work within the context of debates about post-Keynesian economics and critical realism. We then use six criteria to...

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Sraffa and Keynes on the Concept of <i>Commodity Rates of Interest</i>

Nerio Naldi.

in Contributions to Political Economy

June 2015; p ublished online April 2015 .

Journal Article. Subjects: General Aggregative Models; Individual Economists; Economic Methodology; History of Economic Thought (1925 onwards); Money and Interest Rates. 7080 words.

This paper considers how Keynes and Sraffa in December 1931 disagreed on the definition of the concept of commodity rate of interest that was to appear in Sraffa's review of Hayek's Prices...

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