We propose a microeconomic foundation of the multiplier effect and that of the consumption function using a dynamic … demand through a multiplier-like process but that the implication is quite different. It works through not an increase in … consumption function ; multiplier effect ; Keynesian Cross ; persistent unemployment ; aggregate demand …

aggregate demand deficiency. We show that an increase in government purchases boosts GDP through a multiplier process, but the …

We propose a microeconomic foundation of the multiplier effect and that of the consumption function using a dynamic … demand through a multiplier-like process but that the implication is quite different. It works through not an increase in …

aggregate demand deficiency. We show that an increase in government purchases boosts GDP through a multiplier process, but the …

recession. It is an application of the Keynesian multiplier theory, which was expounded in Keynes' 1936 economic treatise, The … General Theory of Employment, Interest and Money. Post-1936 economic history has given the multiplier theory mixed reviews … economist and journalist. He discussed the multiplier theory in the 1840s, more than a generation before John Maynard Keynes …

We propose a microeconomic foundation of the multiplier effect and that of the consumption function using a dynamic … demand through a multiplier-like process but that the implication is quite different. It works through not an increase in …

Although the Keynesian multiplier effect of public works is criticized for lack of a microeconomic foundation, it is … expenditure in the presence of unemployment and that the argument on the multiplier effect seriously misleads the present national … also provided. -- multiplier effect ; consumption function ; national income account …

this paper, we explore the concept of the income multiplier in a multi-regional input-output setting, in the context of the … Greek recession, showing empirical evidence for the increasing magnitude of the multiplier during the recession period. The …