Download or read book The New Keynesian Cross written by Florin Ovidiu Bilbiie and published by . This book was released on 2017 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: The "New Keynesian Cross" proposed here describes aggregate demand through a planned expenditure PE curve and captures analytically a key mechanism and decomposition in heterogeneous-agent New Keynesian (HANK) models à la Kaplan, Moll and Violante, 2015. In response to monetary policy, PE's shift is the direct effect (intertemporal substitution), while its slope (marginal propensity to consume) is the share of the indirect effect in total. The total and indirect effects are increasing with the share of hand-to-mouth agents when these are employed, but decreasing when unemployed; the same holds for forward guidance. Despite this, the optimal duration of forward guidance is not much affected, for when its power increases so does its welfare cost.
Download or read book The Keynesian Cross written by Claudia Heller and published by . This book was released on 2007 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The General Theory of Employment, Interest and Money by John Maynard Keynes led up to three cross-shaped graphical interpretations: the IS-LM model, the 45o model and the Z-D model. The first one was originated from Hicks (1937) well-known paper, despite the differences between his original version and the textbook versions. The second one has become familiar through Alvin Hansen's 1953 book, to which Paul Samuelson also contributed. These two models are considered to be neoclassical - the meaning of which in this particular context will be discussed in our paper. The third model has became popular through Dudley Dillard's 1948 book and is embraced - with few qualifications - by Post Keynesians, who consider it to be more faithful to Keynes's original 1936 book. The three models are graphical (and algebraical) formalizations of Keynes's theory, but the last two are more specific in that they are focused on the explanation of the Principle of Effective Demand (PED). This paper compares the two graphical representations of the PED in the light of the definitions of aggregate demand, aggregate supply and effective demand, as they were presented by Keynes in the General Theory. The purpose of the paper is to identify which original arguments by Keynes support each of both models.
Download or read book Answers to Keynesian Cross written by and published by . This book was released on with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Imperfect competition and the keynesian cross written by N. Gregory Mankiw and published by . This book was released on 1987 with total page 11 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Regional Keynesian Cross written by Marco Bellifemine and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Imperfect Competition and the Keynesian Cross written by and published by . This book was released on 1987 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The General Theory of Employment Interest and Money written by John Maynard Keynes and published by Springer. This book was released on 2018-07-20 with total page 404 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book was originally published by Macmillan in 1936. It was voted the top Academic Book that Shaped Modern Britain by Academic Book Week (UK) in 2017, and in 2011 was placed on Time Magazine's top 100 non-fiction books written in English since 1923. Reissued with a fresh Introduction by the Nobel-prize winner Paul Krugman and a new Afterword by Keynes’ biographer Robert Skidelsky, this important work is made available to a new generation. The General Theory of Employment, Interest and Money transformed economics and changed the face of modern macroeconomics. Keynes’ argument is based on the idea that the level of employment is not determined by the price of labour, but by the spending of money. It gave way to an entirely new approach where employment, inflation and the market economy are concerned. Highly provocative at its time of publication, this book and Keynes’ theories continue to remain the subject of much support and praise, criticism and debate. Economists at any stage in their career will enjoy revisiting this treatise and observing the relevance of Keynes’ work in today’s contemporary climate.
Download or read book The Intertemporal Keynesian Cross written by Adrien Auclert and published by . This book was released on 2018 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We demonstrate the importance of intertemporal marginal propensities to consume (iMPCs) in disciplining general equilibrium models with heterogeneous agents and nominal rigidities. In a benchmark case, the dynamic response of output to a change in the path of government spending or taxes is given by an equation involving iMPCs, which we call the intertemporal Keynesian cross. Fiscal multipliers depend only on the interaction between iMPCs and public deficits. We provide empirical estimates of iMPCs and argue that they are inconsistent with representative-agent, two-agent and one-asset heterogeneous-agent models, but can be matched by models with two assets. Quantitatively, models that match empirical iMPCs predict deficit-financed fiscal multipliers that are larger than one, even if monetary policy is active, taxation is distortionary, and investment is crowded out. These models also imply larger amplification of shocks that involve private borrowing, as we illustrate in an application to deleveraging.
Download or read book Introductory Economics Third Edition written by John H Hoag and published by World Scientific Publishing Company. This book was released on 2002-06-06 with total page 476 pages. Available in PDF, EPUB and Kindle. Book excerpt: Latest Edition: Introductory Economics (4th Edition)This textbook is carefully designed to provide the reader with a good understanding of the fundamental concepts of economics. The writing is lucid and at the student's level. There are twenty-nine “one-concept” chapters. Each chapter is suitably short, highlighting one economic principle. The student can study one concept and be reinforced by the learning process before proceeding to another chapter. Self review exercises conclude each chapter. The one-concept chapters also provide organizational flexibility for the instructor. The text is well integrated to show the relationship among the basic concepts and to offer a comprehensive overview of economics. There are six modules: The Economic Problem; Price Determination; Behind the Supply Curve; Level of Income; Money; and Trade.
Download or read book Dollar for Dollar Crowding Out in the Textbook Keynesian Cross Model When the Economy is Below Full Employment written by Sheldon H. Stein and published by . This book was released on 2010 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper, it will be demonstrated that a "dollar for dollar" crowding out of national investment caused by increased government spending is not just something that occurs within classical macroeconomic models. The reason for this is that in a closed economy Keynesian cross model with ignores money, national savings, or Y - C - G, is equal to national investment, or I. Such an "equilibrium" does not provide the national savings needed to finance a purely fiscal increase in government spending in a closed economy. Any additional government spending would have to occur at the expense of an already low level of capital spending and thus make the government spending multiplier equal to zero.
Download or read book Perspectives on Keynesian Economics written by Arie Arnon and published by Springer Science & Business Media. This book was released on 2010-11-29 with total page 310 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book combines historical and policy-oriented perspectives on the relevance of the Keynesian approach for economic theory, policy, and crisis analysis. The first part focuses on historical, theoretical, and methodological issues, and puts them in context with current developments. The second part focuses on the application of the Keynesian approach to modeling the economy, policy-making, and analyzing the ongoing crisis of the early 21st century. Bringing together contributions by leading macroeconomists such as Laidler, Cukierman, Colander and Boyer, and leading historians of economics such as Hollander, Boianovsky, Marcuzzo, Dimand, Witztum, Young, deVroey and Arnon, the book offers a comprehensive overview of Keynesian economics today. One of the book’s most essential features are the commentaries on the papers, which promote a cross-fertilization between macroeconomists and historians of economics, providing, in conjunction with the papers themselves, a balanced outlook on the current relevance of Keynesian economics.
Download or read book Post Keynesian Economics written by Kenneth K. Kurihara and published by Routledge. This book was released on 2013-10-08 with total page 463 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume represents the extension of Keynes' General Theory by a group of eminent economists. Each essay takes Keynes' work as a frame of reference for criticism, explorations and insights, whilst adding to the superstructure on the foundation of the General Theory. The essays also provide the necessary sense of perspective with a view to examining the Keynesian contribution to economic thought and also the limitations of Keynesian economics. The international contributors include: Dudley Dillard, Martin Bronfenbrenner, Mabel F. Timlin, William S. Vickrey, Don Patinkin, Howard R. Bowen, Gerald M. Meier, R.C.O. Matthews, Shinichi Ichimura, Anatol Murad, Lawrence R. Klein, Shigeto Tsuru, Paul P. Streeten, Lorie Tarshis and Franco Modigliani.
Download or read book A Neo Walrasian Alternative to the Keynesian Cross Analysis written by Warren E. Weber and published by . This book was released on 1973 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Teaching Macroeconomics with Microsoft Excel written by Humberto Barreto and published by Cambridge University Press. This book was released on 2016-05-23 with total page 199 pages. Available in PDF, EPUB and Kindle. Book excerpt: Humberto Barreto shows professors how to teach macroeconomic models and incorporate data using Microsoft Excel® with free files and videos.
Download or read book The Keynesian Multiplier written by Claude Gnos and published by Routledge. This book was released on 2008-05-25 with total page 398 pages. Available in PDF, EPUB and Kindle. Book excerpt: The multiplier is a central concept in Keynesian and post-Keynesian economics. It is largely what justifies activist full-employment fiscal policy: an increase in fiscal expenditures contributing to multiple rounds of spending, thereby financing itself. Yet, while a copingstone of post-Keynesian theory, it is not universally accepted by
Download or read book An Encyclopedia of Keynesian Economics Second edition written by Thomas Cate and published by Edward Elgar Publishing. This book was released on 2013-01-01 with total page 705 pages. Available in PDF, EPUB and Kindle. Book excerpt: Acclaim for the first edition: ÔThis easy-to-read collection . . . tells the whole story. Filled with short, well-written pieces, the encyclopedia covers the names and ideas that preceded Keynes, that carried his work to the center of the profession, and that eventually supplanted him there . . . There are excellent and unexpected articles on the Austrian school, the Lausanne school, and the Ricardo effect. There are well-done pieces on all the basic theoretical models at the heart of Keynesianism . . . [the] volume has been well put together. The editors deserve special praise for letting each contributor tell his own story. Those who oppose KeynesÕs ideas are just as well represented as those who carry the torch for him. This evenhandedness helps to ensure a volume that is truly representative and that will allow its users to get a full picture of the life and times of Keynesian economics.Õ Ð Bradley W. Bateman, Grinnell College, US ÔThe book will also be of some interest to serious scholars, partly because it includes biographies of many economists too young to have been included in the New Palgrave, such as Dornbusch, Fisher, Herschel Grossman, Kregel, Lucas, and Robert Townsend. It also includes some very interesting longer essays.Õ Ð Peter Howitt, The Economic Journal ÔThis book provides an excellent summary of the many strands of ÔKeynesianÕ- style thought both before and after 1936. Its well-considered entries take care to make explicit the assumptions and fundamental points of difference between theories too often concealed by the parents and advocates of specific theories in their zeal to promote the universality of the ideas. There is scarcely an entry that suffers from wordiness and repetition; the readerÕs scarce time is not abused.Õ Ð Elizabeth Webster, Economic Record ÔThis reviewer found using this source exhilarating and endowed with additional interest in view of the 1997 discussion on the inclusion or noninclusion of Keynesian economics in introductory economics textbooks. The editors should be applauded for helping to preserve a part of intellectual heritage.Õ Ð Bogdan Mieczkowski, American Reference Books ÔIt is the best single reference source on Keynesian economics and will be welcomed by students and teachers in economics as well as scholars in related social sciences and government policy makers.Õ Ð Educational Book Review This thoroughly revised and updated second edition of a highly acclaimed and authoritative reference work introduces the major concepts in the field of Keynesian economics. The comprehensive Encyclopedia features accessible, informative and provocative contributions by leading international scholars working in the tradition of Keynes. It brings together widely dispersed yet theoretically congruent ideas, presents concise biographies of economists who have contributed to the debate on Keynes and the Keynesian Revolution, and outlines the basic principles, models and tools used to discuss the economic consequences of The General Theory. Longer entries on specific topics associated with Keynes and the Keynesian Revolution analyse the principal factors that contributed to The General Theory, the economics of Keynes and the rise and apparent decline of Keynesian economics in greater detail. The second edition will ensure that An Encyclopedia of Keynesian Economics will remain the best single reference source on Keynesian economics and will continue to be welcomed by academics, students and teachers of economics as well as by scholars in related social sciences and government policymakers.
Download or read book Weekly Weather and Crop Bulletin written by and published by . This book was released on 1994 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
