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A ‘Walrasian post-Keynesian’ model? Resolving the paradox of Oskar Lange’s 1938 theory of interest

Roberto Lampa.

in Cambridge Journal of Economics

January 2014; p ublished online July 2013 .

Journal Article. Subjects: General Equilibrium and Disequilibrium; Macroeconomics: Consumption, Saving, Production, Employment, and Investment; General Aggregative Models; Capitalist Systems; History of Economic Thought (1925 onwards). 11726 words.

This article investigates Oskar Lange’s 1938 article, ‘The rate of interest and the optimum propensity to consume’, with the intention of providing a thorough interpretation of this rather...

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3a 3a A Reply to Reddy and Pogge

Martin Ravallion.

in Debates on the Measurement of Global Poverty

February 2010; p ublished online May 2010 .

Chapter. Subjects: Macroeconomics and Monetary Economics. 7558 words.

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Accomplishing State Budget Policy and Process Reforms

Iris J. Lav.

in The Oxford Handbook of State and Local Government Finance

March 2012; p ublished online September 2012 .

Article. Subjects: Economics; Public Economics; Macroeconomics and Monetary Economics. 10887 words.

This article tackles the issue of comprehensive state budget reform. With structural deficits rampant, reform is needed to maintain the current level of programs that states and localities...

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Accounting for the Distribution of Income in the US National Accounts

Dennis Fixler and David S. Johnson.

in Measuring Economic Sustainability and Progress

October 2014; p ublished online May 2015 .

Chapter. Subjects: Macroeconomics and Monetary Economics. 13067 words.

The goal of this paper is to address the divergent trends between rising GDP, or national output, and its distribution to individuals. This paper provides distributional measures of...

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Accounting for the Rise and Fall of Brazil’s Growth After World War II

Edmar Bacha and Regis Bonelli.

in Macroeconomics and Development

April 2016; p ublished online September 2016 .

Chapter. Subjects: Macroeconomics and Monetary Economics. 6720 words.

the long-term evolution of the Brazilian economy is examined in this chapter. The authors use models that emphasize the determinants of aggregate supply to help decipher the puzzle of...

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Accounts

Taylor C. Nelms.

Edited by Bill Maurer and Lana Swartz.

in Paid

May 2017; p ublished online January 2018 .

Chapter. Subjects: Macroeconomics and Monetary Economics. 1945 words.

Focusing on middle class Ecuadoreans, this chapter explores the paper ephemera and other accoutrements that surround cash payments: account books, receipts, cloth storage sacks, digital...

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Accrual Bonds/Z Bonds

Linda Lowell, Glenn Schultz and Frank J. Fabozzi.

in The Handbook of Mortgage-Backed Securities

August 2016; p ublished online October 2016 .

Chapter. Subjects: Financial Markets; Macroeconomics and Monetary Economics. 7273 words.

This chapter discusses the role of accrual bonds in the collateralized mortgage obligation (CMO) market. The accrual bond is a long-dated bond which is structured in such a way that it does...

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The Accumulation of Capital

John Hicks.

in Capital and Time

October 1987; p ublished online November 2003 .

Chapter. Subjects: Macroeconomics and Monetary Economics. 4334 words.

The idea of a capital aggregate was not really used in Part II of this book. This chapter looks at what would happen if capital aggregates were used; or at least to examine what would have...

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The Accumulation of International Reserves as a Defense Strategy

Fernando J. Cardim de Carvalho.

in Time for a Visible Hand

January 2010; p ublished online February 2010 .

Chapter. Subjects: Macroeconomics and Monetary Economics. 8184 words.

The chapter by Carvalho explores the accumulation of international reserves as a defensive strategy, as well as the reasons and limitations of their “self‐insurance” function. Conceptually,...

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The Achievements of an Optimistic Economist*

John Toye.

in Towards Human Development

April 2014; p ublished online May 2014 .

Chapter. Subjects: Economic Development and Growth; Macroeconomics and Monetary Economics. 8017 words.

Richard Jolly is best known for his long period of service as Deputy Executive Director of UNICEF under the leadership of the late Jim Grant. Richard oversaw the creation of the UNICEF...

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Achieving Current Account Convertibility: 1949–64

Shinji Takagi.

in Conquering the Fear of Freedom

April 2015; p ublished online May 2015 .

Chapter. Subjects: Financial Markets; Macroeconomics and Monetary Economics. 15632 words.

Chapter 2 reviews Japan’s restrictive system of trade and payments—how it worked and how it was liberalized. The restrictive system was not only conceived as a mechanism to conserve scarce...

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Achieving Fiscal Sustainability for State and Local Governments

Robert B. Ward.

in The Oxford Handbook of State and Local Government Finance

March 2012; p ublished online September 2012 .

Article. Subjects: Economics; Public Economics; Macroeconomics and Monetary Economics. 8727 words.

Over the last decade, observers of state and local finances have been alarmed over an emerging picture of long-term, structural imbalances. This article examines the concept of fiscal...

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Adam Smith on Value and Prices

Nerio Naldi.

in The Oxford Handbook of Adam Smith

May 2013; p ublished online July 2013 .

Article. Subjects: Economics; Economic History; Industry Studies; Macroeconomics and Monetary Economics. 9382 words.

This chapter considers the evolution of the way Smith presented his analysis of value and prices from the Lectures on Jurisprudence to The Wealth of Nations and its importance...

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Adaptive Behavior

Kumaraswamy Velupillai.

in Computable Economics

January 2000; p ublished online November 2003 .

Chapter. Subjects: Macroeconomics and Monetary Economics. 7114 words.

Two counter‐intuitive points are made in this chapter. The first is the claim, demonstrated formally, that orthodox definitions of rationality, when viewed in a dynamic context, turn out to...

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Addressing the “Wicked Problem” of Input Subsidy Programs in Africa

Jacob Ricker-Gilbert, Thomas Jayne and Gerald Shively.

in Applied Economic Perspectives and Policy

June 2013; p ublished online February 2013 .

Journal Article. Subjects: Corporate Regulation; Development Planning and Policy; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook; Agricultural Economics; Economic Development. 8875 words.

This article reviews and critically assesses evidence on input subsidy programs implemented in selected countries over the past decade in Africa. We believe that input subsidies should be...

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Adjusting Government Policies for Age Inflation

John B. Shoven and Gopi Shah Goda.

in Demography and the Economy

January 2011; p ublished online February 2013 .

Chapter. Subjects: Macroeconomics and Monetary Economics. 10405 words.

This chapter suggests that the concept of years since birth is a flawed way of measuring age and suggest four different ways of moving from nominal age (years since birth) to real age. It...

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Adjustment Costs in the Labor Market

Fabio-Cesare Bagliano and Giuseppe Bertola.

in Models for Dynamic Macroeconomics

February 2004; p ublished online January 2005 .

Chapter. Subjects: Macroeconomics and Monetary Economics. 12713 words.

Focusses on how uncertainty may be treated simply in a Markov chain environment where shocks occur with given probabilities across a well‐defined and stable set of possible states....

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Advanced Technology Program

Albert N Link and Jamie R. Link.

in Government as Entrepreneur

September 2009; p ublished online September 2009 .

Chapter. Subjects: Macroeconomics and Monetary Economics. 6883 words.

This chapter describes the Advanced Technology Program (ATP) through which government acts as entrepreneur. ATP's public financial resources leverage private-sector R&D. The use of public...

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After the Bust, the Denial, 2007–2009

Ashoka Mody.

in EuroTragedy

July 2018; p ublished online May 2018 .

Chapter. Subjects: International Economics; Macroeconomics and Monetary Economics. 15108 words.

This chapter examines the financial crisis that had begun in early 2007 in the United States. Euro area banks had taken big risks both in the U.S. and at home; almost instantly, they had...

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After the Crisis

Edited by Francesco Caselli, Mário Centeno and José Tavares.

July 2016; p ublished online August 2016 .

Book. Subjects: Macroeconomics and Monetary Economics. 224 pages.

This book reassesses the twin projects of structural reform and European integration in the wake of the Great Recession and the European Sovereign Debt Crisis. A brief introduction compares...

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