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Managing a liquidity trap : monetary and fiscal policy
Werning, Iván - 2011
Persistent link: https://www.econbiz.de/10009308066
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Fiscal mulipliers : liquidity traps and currency unions
Farhi, Emmanuel; Werning, Iván - 2012
Persistent link: https://www.econbiz.de/10010126021
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Managing a Liquidity Trap : Monetary and Fiscal Policy
Werning, Iván - 2011
I study monetary and fiscal policy in liquidity trap scenarios, where the zero bound on the nominal interest rate is binding. I work with a continuous-time version of the standard New Keynesian model. Without commitment, the economy suffers from deflation and depressed output. I show that,...
Persistent link: https://www.econbiz.de/10013120966
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Fiscal Multipliers : Liquidity Traps and Currency Unions
Farhi, Emmanuel - 2012
We provide explicit solutions for government spending multipliers during a liquidity trap and within a fixed exchange regime using standard closed and open-economy models. We confirm the potential for large multipliers during liquidity traps. For a currency union, we show that self-financed...
Persistent link: https://www.econbiz.de/10013100679
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Fiscal Mulipliers : Liquidity Traps and Currency Unions
Farhi, Emmanuel - 2012
We provide explicit solutions for government spending multipliers during a liquidity trap and within a fixed exchange regime using standard closed and open-economy models. We confirm the potential for large multipliers during liquidity traps. For a currency union, we show that self-financed...
Persistent link: https://www.econbiz.de/10013101044
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J M Keynes's Main Argument in the General Theory Is Not Expressed in Terms of His Aggregate Demand (D) and Aggregate Supply (Z) Model. Keynes's D-Z Analysis Supports a Specific Y=C...
Brady, Michael Emmett - 2017
Keynes's Theory of Effect ... …
Persistent link: https://www.econbiz.de/10012944203
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Joan Robinson on Keynes's Liquidity Preference Function and the Rate of Interest and Her Failure to Grasp the Connection between the General Theory, the Liquidity Preference Functi...
Brady, Michael Emmett - 2018
treatise on Probability and the concept of the weight of the evidence from the General Theory. She mixed up Keynes's concept of … that was sent to both Austin Robinson and Richard Kahn. Keynes explicitly states that his theory of the rate of interest is … NOT that the interest rate is determined by the demand and supply of money. Keynes's theory of the interest rate is an …
Persistent link: https://www.econbiz.de/10012928375
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From Keynes Back to Smith and Aristotle : Liquidity Preference, Hoarding, and Speculation
Brady, Michael Emmett - 2018
Persistent link: https://www.econbiz.de/10012931457
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An Analysis of Joan Robinson’s 1972 Article ‘What Has Become of the Keynesian Revolution?’ In Light of Keynes’s Assessment of Her Understanding of His Liquidity Preference Theory o...
Brady, Michael Emmett - 2021
development of the General Theory between 1930 and February, 1936, given the nature of these exchanges. Keynes is very specific as … regards his Liquidity preference theory of the rate of interest: “You do not seem to realize that if you are right the whole … theory of liquidity preference has to be thrown overboard…Such a conclusion cannot be brought in as a tacit inference from an …
Persistent link: https://www.econbiz.de/10013242620
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Fiscal multipliers : liquidity traps and currency unions
Farhi, Emmanuel; Werning, Iván - 2012
Persistent link: https://www.econbiz.de/10009631326