It is sometimes argued that one cannot criticize general equilibrium models on grounds of equilibrium non-existence. I argue that once problematic treatments of interests and profits in general equilibrium models are corrected, equilibrium non-existence issues arise again. Uniform rate of...

History has witnessed many great individuals who have had unforgettable impact and great influences on societies that they may not last for centuries. Among these, doubtless to say, John Maynard Keynes was one of the most influenced social scientists. It is therefore the subject of this study to...

History has witnessed many great individuals who have had unforgettable impact and great influences on societies that they may not last for centuries. Among these, doubtless to say, John Maynard Keynes was one of the most influenced social scientists. It is therefore the subject of this study to...

In this bibliographic review, the Keynes‘main arguments against the Say’s law are gathered, this law was thought to be a special case of a broader and general theory and therefore more powerful as economic policy is concerned. These insights are vital, to understand Keynesian economics and...

This paper is not intended to assess and to examine fiscal policies carried out by the fiscal authorities of any country, including the Indonesian government, but only to refresh theoretical fiscal policy functions, which are then linked to some facts of their implementation in a number of...

This paper examines Friedman’s writings in the years 1941-1943 and compares them with those after the war with a view to assessing differences and similarities. Albeit a first assessment, Friedman’s “Keynesian illness” in his ‘Washington phase’ will appear to have been less...

9-ending prices are a dominant feature of many retail settings, which according to the existing literature, is because consumers perceive them as being relatively low. Are 9-ending prices really lower than comparable non 9-ending prices? Surprisingly, the empirical evidence on this question is...

We offer new evidence on the link between price points and price rigidity using two datasets. One is a large weekly transaction price dataset, covering 29 product categories over an eight-year period from a large U.S. supermarket chain. The other is from the Internet, and includes daily prices...