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Explaining the aggregate price level with Keynes's principle of effective demand

Hartwig, Jochen - 2004

The conventional wisdom about Keynes's Principle of Effective Demand is that it states something about quantities. It is widely held that the Principle determines the levels of output and employment in a world not governed by Say's Law. This paper argues that the Principle of Effective Demand...

Persistent link: https://www.econbiz.de/10010285937

Keynes versus the post keynesians on the principle of effective demand

Hartwig, Jochen - 2004

The American Post Keynesians - those who attach importance to the Big P and the absence of a dash between post and Keynesian - claim to be Keynes's most literal interpreters, or the truest Keynesians (HOLT ET AL., 1998, p. 17). This paper compares the Post Keynesian interpretation of the...

Persistent link: https://www.econbiz.de/10010285939

Distribution and growth in demand and productivity in Switzerland (1950 - 2010)

Hartwig, Jochen - 2012

I investigate whether demand growth and productivity growth in Switzerland have benefitted from the wage moderation that set in at the beginning of the 1990s in this country. The results suggest that the Swiss demand regime is profit-led while the productivity regime is wage-led. This means on...

Persistent link: https://www.econbiz.de/10010319733

Testing Okun's law with Swiss industry data

Hartwig, Jochen - 2014

Okun's Law postulates a stable relationship between quarterly output growth and changes in (un)employment. This proposition has so far been tested with macroeconomic data at the highest level of aggregation. The paper goes beyond that in extending the analysis to industry data from Switzerland,...

Persistent link: https://www.econbiz.de/10010420564

Structural change, aggregate demand and employment dynamics in the OECD, 1970 - 2010

Hartwig, Jochen - 2013

The paper combines Baumol's model of structural change with a model of aggregate demand growth in the Keynesian-Kaleckian tradition to predict the dynamics of aggregate employment. The model for the demand regime is estimated with - and Baumol's model for the productivity regime is calibrated on...

Persistent link: https://www.econbiz.de/10010420575

Testing the Bhaduri-Marglin model with OECD panel data

Hartwig, Jochen - 2014

The Bhaduri-Marglin model is a post-Kaleckian model that allows for studying the impact of functional income distribution on the growth in demand. Over recent years, a number of empirical studies based on this model have aimed at determining whether a redistribution towards profits harms or...

Persistent link: https://www.econbiz.de/10010420577

The effect of peer observation on consumption choices: experimental evidence

Sakha, Sahra; Grohmann, Antonia - 2016

This paper investigates the impact of peer observation on the consumption decisions of rural households in Thailand … deviation in their decisions. Thus, we find evidence for conformity. Further, we find that individual's consumption choice is …

Persistent link: https://www.econbiz.de/10011435024

The Effect of Peer Observation on Consumption Choices: Experimental Evidence

Grohmann, Antonia; Sakha, Sahra - 2016

This paper investigates the impact of peer observation on consumption decisions of rural households in Thailand using a … evidence for conformity. Further, we find that individual's consumption choice is influenced by the group choice controlling … unfamiliarity of the consumption good is counteracted by peer effects. We further show that the consumption choice is influenced by …

Persistent link: https://www.econbiz.de/10012038677

The effect of self-control on borrowing: Experimental evidence

Grohmann, Antonia; Hamdan, Jana S. - 2020

that people with low self-control have more problems with the repayment of consumption debt, but this relationship is, in …

Persistent link: https://www.econbiz.de/10012504511

The effect of self-control and financial literacy on impulsive borrowing: Experimental evidence

Grohmann, Antonia; Hamdan, Jana S. - 2021

This paper examines the effect of reduced self-control on impulsive borrowing in a laboratory experiment. We manipulate self-control using an ego depletion task and show that it is effective. Following the ego depletion task, participants can anonymously buy hot drinks on credit. We find no...

Persistent link: https://www.econbiz.de/10012545312