The Structure of Keynesian Macrodynamics: A Framework for Future Research
This paper integrates a number of traditional but partial insights of Keynesian macrotheory into a consistent whole, with all budget restrictions of all sectors carefully specified, a complete set of stock-flow interactions and the construction of a unique interior steady state. We provide detailed representations of the many feedback chains and their interaction that are present in the model. The paper provides proper foundations of a detailed analysis of the important macroeconomi features that characterize modern large economies.
|Date of creation:||01 May 2003|
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- James Tobin, 1975. "Keynesian Models of Recession and Depression," Cowles Foundation Discussion Papers 387, Cowles Foundation for Research in Economics, Yale University.
- Chiarella, Carl & Flaschel, Peter, 1998. "Dynamics Of Natural Rates Of Growth And Employment," Macroeconomic Dynamics, Cambridge University Press, vol. 2(03), pages 345-368, September.
- Chiarella,Carl & Flaschel,Peter, 2011.
"The Dynamics of Keynesian Monetary Growth,"
Cambridge University Press, number 9780521180184, January.
- Chiarella,Carl & Flaschel,Peter, 2000. "The Dynamics of Keynesian Monetary Growth," Cambridge Books, Cambridge University Press, number 9780521643511, January.
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- Carl Chiarella & Peter Flaschel & Gang Gong & Willi Semmler, 2002. "Nonlinear Phillips Curves, Complex Dynamics and Monetary Policy in a Keynesian Macro Model," Working Paper Series 120, Finance Discipline Group, UTS Business School, University of Technology, Sydney.
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- Lawrence F. Katz & Olivier Blanchard, 1999. "Wage Dynamics: Reconciling Theory and Evidence," American Economic Review, American Economic Association, vol. 89(2), pages 69-74, May.
- Olivier Jean Blanchard & Lawrence Katz, 1999. "Wage Dynamics: Reconciling Theory and Evidence," NBER Working Papers 6924, National Bureau of Economic Research, Inc.
- Peter Flaschel & Hans-Martin Krolzig, 2003. "Wage and Price Phillips Curves An empirical analysis of destabilizing wage-price spirals," Economics Papers 2003-W16, Economics Group, Nuffield College, University of Oxford. Full references (including those not matched with items on IDEAS)
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