This file is part of IDEAS, which uses RePEc data


[ Papers | Articles | Software | Books | Chapters | Authors | Institutions | JEL Classification | NEP reports | Search | New papers by email | Author registration | Rankings | Volunteers | FAQ | Blog | Help! ]

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

Author info | Abstract | Publisher info | Download info | Related research | Statistics
Author Info
Jochen Hartwig

Additional information is available for the following registered author(s):

Abstract

The mainstream view of Keynes's principle of effective demand is that it states something about quantities--and about quantities only. The principle is held to determine the levels of output and employment in a world not governed by Say's law. This paper argues that the principle of effective demand goes beyond this to explain not only 'real’ activity levels but also the aggregate price level. A variant of the post-Keynesian D/Z -model is brought together with Marxian reproduction schemes to derive this result.

Download Info
To download:

If you experience problems downloading a file, check if you have the proper application to view it first. Information about this may be contained in the File-Format links below. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL: http://taylorandfrancis.metapress.com/link.asp?target=contribution&id=L564P1241W1885V1
File Format: text/html
File Function:
Download Restriction: Access to full text is restricted to subscribers.

As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.

Publisher Info
Article provided by Taylor and Francis Journals in its journal Review of Social Economy.

Volume (Year): 64 (2006)
Issue (Month): 4 (December)
Pages: 469-492
Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Handle: RePEc:taf:rsocec:v:64:y:2006:i:4:p:469-492

Contact details of provider:
Web page: http://taylorandfrancis.metapress.com/link.asp?target=journal&id=104728

Order Information:
Web: http://www.tandf.co.uk/journals/subscription.html

For technical questions regarding this item, or to correct its listing, contact: (Christopher F. Baum).

Related research
Keywords: effective demand; multiplier; post-Keynesianism; D/Z -model; reproduction schemes;

Other versions of this item:

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Tony Thirlwall, 1998. "A 'Second Edition' of Keynes's General Theory," Studies in Economics 9820, Department of Economics, University of Kent. [Downloadable!]
  2. Dutt, Amitava Krishna, 1987. "Keynes with a Perfectly Competitive Goods Market," Australian Economic Papers, Blackwell Publishing, vol. 26(49), pages 275-93, December.
  3. repec:cup:cbooks:9780521066310 is not listed on IDEAS
  4. King, J., 1993. "Aggregate Supply and Demand Analysis Since Keynes: A Partial History," Papers 16-93, La Trobe - Department of Economics.
  5. Claude Gnos, 2004. "Is ex-ante ex-post analysis irrelevant to Keynes's theory of employment?," Review of Political Economy, Taylor and Francis Journals, vol. 16(3), pages 335-345, July. [Downloadable!] (restricted)
  6. Davidson, Paul, 1972. "Money and the Real World," Economic Journal, Royal Economic Society, vol. 82(325), pages 101-15, March. [Downloadable!] (restricted)
  7. Giuseppe Fontana, 2004. "Hicks on monetary theory and history: money as endogenous money," Cambridge Journal of Economics, Oxford University Press, vol. 28(1), pages 73-88, January.
  8. Casarosa, Carlo, 1981. "The Microfoundations of Keynes's Aggregate Supply and Expected Demand Analysis," Economic Journal, Royal Economic Society, vol. 91(361), pages 188-94, March. [Downloadable!] (restricted)
  9. Jochen Hartwig, 2004. "Keynes's multiplier in a two-sectoral framework," Review of Political Economy, Taylor and Francis Journals, vol. 16(3), pages 309-334, July. [Downloadable!] (restricted)
Full references

Statistics
Access and download statistics

Did you know? IDEAS was launched in September 1997.

This page was last updated on 2009-12-10.

This information is provided to you by IDEAS at the Department of Economics, College of Liberal Arts and Sciences, University of Connecticut using RePEc data on a server sponsored by the Society for Economic Dynamics.