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F. Modigliani presented a special case of Keynes's General Theory result in 1944 in his “Liquidity Preference and the … Theory of Interest and Money”. Modigliani sought to provide the IS-LM model of Hicks's 1937 Econometrica interpretation of … Keynes's chapter 15 IS-LM model with microeconomic foundations in the theory of the firm that included a production function …
Persistent link: https://www.econbiz.de/10012951951
over Hicks.On pp.180-181 in chapter 14 of the GT,Keynes dealt with the classical and neoclassical theory of the rate of … and productivity alone. He stated that in order to have a determinant theory of the rate of interest, the state of … IS LM, in general ,outside of the fact that IS LM needed (1) a microfoundation in the theory of the firm and (2) needed …
Persistent link: https://www.econbiz.de/10012954371
J M Keynes engaged in correspondence over the IS-LM model contained in chapter 15 of the General Theory with R. Harrod … his own model of IS LM in the General Theory, as laid out by Keynes explicitly in chapter 15 of the General Theory … by Keynes within the broader framework of his Theory of Effective Demand, presented in the General Theory in chapters 3 …
Persistent link: https://www.econbiz.de/10012955766
assumption at both the micro and macro levels.It was impossible for Robertson to follow Keynes's theory, even though he …
Persistent link: https://www.econbiz.de/10012909828
21 of the General Theory in 1936 first presenting the model on pp.298-299 and then discussing his IS-LM model’s strengths … important if an IS-LM framework was to be a good summary of the General Theory. We then consider whether Hicks’s IS-LM framework …
Persistent link: https://www.econbiz.de/10013242376
All of J .M .Keynes's earlier 1933-1935 versions of his IS-LM(LP) model contained a serious inconsistency. These earlier models all incorporated both actual and expected outcomes in the same model. The units did not match up. Keynes solved this problem by himself by splitting off the D-Z model...
Persistent link: https://www.econbiz.de/10012895943