Keynesian economics and the Oslo School [PDF]
The economic crisis of the 1930’s hit Norway when Ragnar Frisch returned from the US to accept a professorship at University of Oslo. On his return he wrote newspaper articles proposing tax relief and monetary policies to fight the economic crisis ...
Arild Sæther, Ib E. Eriksen
core
Empirical Assessment of Bifurcation Regions within New Keynesian Models [PDF]
As is well known in systems theory, the parameter space of most dynamic models is stratified into subsets, each of which supports a different kind of dynamic solution.
William Barnett +1 more
core +2 more sources
The Influence of Michal Kalecki on Joan Robinson’s Approach to Economics [PDF]
Joan Robinson and Michal Kalecki were two of the intellectual giants of twentieth century economics, whose contributions over a significant range of issues have had major impacts on economics.
G. C. Harcourt, Peter Kriesler
core
Keynesian Dynamics and the Wage-Price Spiral:Estimating a Baseline Disequilibrium Approach [PDF]
We reformulate the baseline disequilibrium AS-AD model of Asada et al. (2004) to make it applicable for empirical estimation. The model now exhibits a Taylor interest rate rule in the place of an LM curve, a dynamic IS curve and dynamic employment ...
P. Chen, C. Chiarella
core
PSL Quarterly Review, 1998 The work seeks to better understand how economic thought changes at policy institutions, as compared to academic institutions. The prevalence of academic economics during the 1970s introduced pronounced changes in the Annual Economic Reports of the ...
I. MAES
doaj
Inflation Convergence and the New Keynesian, Phillips Curve in the Czech Republic [PDF]
The New Keynesian Phillips Curve has become an important part of modern monetary policy models. It describes the relationship between inflation and real marginal cost, which is derived from micro-founded models with rational expectations, sticky prices ...
Katarína Danišková, Jarko Fidrmuc
core
Microfoundations: a decisive dividing line between Keynesian and new classical macroeconomics? [PDF]
It is often argued that what marks the difference between Keynesian macroeconomics and new classical macroeconomics (the first installment of dynamic stochastic general equilibrium models) is the presence of microfoundations.
Michel DE VROEY
core
Technology, utilization and inflation: what drives the New Keynesian Phillips Curve? [PDF]
We argue that the New-Keynesian Phillips Curve literature has failed to deliver a convincing measure of “fundamental inflation”. We start from a careful modeling of optimal price setting allowing for non-unitary factor substitution, non-neutral technical
Willman, Alpo, McAdam, Peter
core
Anticipations of the Crisis: On the Similarities Between Post Keynesian Economics and Regulation Theory [PDF]
The purpose of this paper is to explore the similarities between Post Keynesian Economics (PKE) and Regulation Theory (RT). It is argued that, despite important differences between these traditions, the analytical contents of PKE and RT display broad ...
Mark Setterfield
core
Microfoundations of macroeconomics. Post-Keynesian contributions on the theory of the firm [PDF]
Looking through contributions about microeconomic theory, from classics to modern theory, it is possible to identify various attitudes on the role that firms play in the market. To simplify the existing multiplicity of opinion, two distinct positions can
Canale, Rosaria Rita
core