Dimand on the Corridor of Stability
AbstractThis chapter draws on the debt-deflation process of Fisher (1933 ) as well as on Keynes (1936 , chapter 19) and Tobin (1975 , 1980 ) to explore the concept of a corridor of stability, where an economy will be self-adjusting only for demand shocks small enough to leave it within that corridor. Copyright 2005 American Journal of Economics and Sociology, Inc..
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Bibliographic InfoArticle provided by Wiley Blackwell in its journal American Journal of Economics and Sociology.
Volume (Year): 64 (2005)
Issue (Month): 1 (01)
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- Palley, Thomas I., 2008. "Keynesian models of deflation and depression revisited," Journal of Economic Behavior & Organization, Elsevier, vol. 68(1), pages 167-177, October.
- Subrata Guha, 2011. "The necessary condition for stability in Tobin's Walras-Keynes-Phillips model: A note," Economics Bulletin, AccessEcon, vol. 31(1), pages 66-74.
- Stefan Mittnik & Willi Semmler, 2013.
"The Real Consequences of Financial Stress,"
SFB 649 Discussion Papers
SFB649DP2013-011, Sonderforschungsbereich 649, Humboldt University, Berlin, Germany.
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