IDEAS home Printed from https://ideas.repec.org/a/psl/moneta/200523.html
   My bibliography  Save this article

Modigliani e Keynes

Author

Listed:
  • Robert M. Solow

    (MIT, Department of Economics, Cambridge, Mass. (USA))

Abstract

The first article published by Franco Modigliani has become one of the basic texts of the modern Keynesian economics. It formalized the model (or at least one model) implicit in the General Theory. Modigliani argued that the characteristics Keynesian conclusions are based primarily on the (realistic) rigidity of nominal wages. In particular, it showed that if wages and prices were flexible, the theory of liquidity preference of money could not generate persistent involuntary unemployment, but if wages were rigid, the theory of the amount of money could do it. Sixty years later Modigliani returned to expose the "Keynesian gospel" and proposed essentially the same interpretation. This article reconsiders and discusses this approach to macroeconomics, with some reference to its implications for economic policy.

Suggested Citation

  • Robert M. Solow, 2005. "Modigliani e Keynes," Moneta e Credito, Economia civile, vol. 58(230-231), pages 11-20.
  • Handle: RePEc:psl:moneta:2005:23
    as

    Download full text from publisher

    File URL: http://ojs.uniroma1.it/index.php/monetaecredito/article/view/9730/9616
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    Franco Modigliani; verifiche empiriche; ciclo vitale; Keynes; disoccupazione; teoria della spesa;
    All these keywords.

    JEL classification:

    • B22 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Macroeconomics
    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:psl:moneta:2005:23. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Carlo D'Ippoliti (email available below). General contact details of provider: http://www.economiacivile.it .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.