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Dimand on the Corridor of Stability


  • Robert W. Dimand


This 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..

Suggested Citation

  • Robert W. Dimand, 2005. "Dimand on the Corridor of Stability," American Journal of Economics and Sociology, Wiley Blackwell, vol. 64(1), pages 185-199, January.
  • Handle: RePEc:bla:ajecsc:v:64:y:2005:i:1:p:185-199

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    References listed on IDEAS

    1. Slottje, Daniel J, 1991. "Measuring the Quality of Life across Countries," The Review of Economics and Statistics, MIT Press, vol. 73(4), pages 684-693, November.
    2. Blomquist, Glenn C & Berger, Mark C & Hoehn, John P, 1988. "New Estimates of Quality of Life in Urban Areas," American Economic Review, American Economic Association, vol. 78(1), pages 89-107, March.
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    5. Levernier, William & Partridge, Mark D. & Rickman, Dan S., 1998. "Differences in Metropolitan and Nonmetropolitan U.S. Family Income Inequality: A Cross-County Comparison," Journal of Urban Economics, Elsevier, vol. 44(2), pages 272-290, September.
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    7. repec:mes:challe:v:36:y:1993:i:2:p:58-62 is not listed on IDEAS
    8. Joseph Gyourko, 1991. "How accurate are quality-of-life rankings across cities?," Business Review, Federal Reserve Bank of Philadelphia, issue Mar, pages 3-14.
    9. Fedderke, Johannes & Klitgaard, Robert, 1998. "Economic Growth and Social Indicators: An Exploratory Analysis," Economic Development and Cultural Change, University of Chicago Press, vol. 46(3), pages 455-489, April.
    10. Hirschberg, Joseph G. & Maasoumi, Esfandiar & Slottje, Daniel J., 1991. "Cluster analysis for measuring welfare and quality of life across countries," Journal of Econometrics, Elsevier, vol. 50(1-2), pages 131-150, October.
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    Cited by:

    1. 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.
    2. Mittnik, Stefan & Semmler, Willi, 2014. "Overleveraging, financial fragility and the banking-macro link: Theory and empirical evidence," ZEW Discussion Papers 14-110, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
    3. Mittnik, Stefan & Semmler, Willi, 2013. "The real consequences of financial stress," Journal of Economic Dynamics and Control, Elsevier, vol. 37(8), pages 1479-1499.
    4. Palley, Thomas I., 2008. "Keynesian models of deflation and depression revisited," Journal of Economic Behavior & Organization, Elsevier, vol. 68(1), pages 167-177, October.

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