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18 Keynes in the Long Run: A Theory of Wages, Prices, and Employment
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Chapters in this book
- Frontmatter i
- Contents vii
- Notation xi
- Prologue: What Is This Book About? 1
-
Part I. Background: The Rise and Fall
- 1 Introduction: Is This Resurrection Necessary? 17
- 2 What Were They Thinking? Economics Before The General Theory 50
-
Part II. Keynes Defeated: Static Models and the Critics
- 3 The Determination of Output and Employment: First and Second Passes at Equilibrium 77
- 4 Equilibrium with a Given Money Supply: Critical Perspectives on the Second-Pass Model 122
-
Part III. Keynes Vindicated: A Theory of Real-Time Changes
- 5 The Price Mechanism: Gospels According to Marshall and Walras 159
- 6 The General Theory without Rigid Prices and Wages 191
- 7 Dynamics vs. Statics: Can the Economy Get from the Here of Unemployment to the There of Full Employment? 222
- 8 A Dose of Reality: The Evidence of the Great Depression 261
-
Part IV. Building Blocks
- 9 Consumption and Saving 307
- 10 Investment 340
- 11 The Theory of Interest, I: Liquidity Preference in a World of Money and Bonds 376
- 12 The Theory of Interest, II: Liquidity Preference as a Theory of Spreads 409
- 13 Taking Money Seriously 497
-
Part V. Fiscal Policy in Theory and Practice
- 14 Functional Finance and the Stabilization of Aggregate Demand 529
- 15 Did the Obama Stimulus Work? 544
- 16 Functional Finance and the Composition of Aggregate Demand 594
-
Part IV. Keynes in the Long Run
- 17 First Steps into the Long Run: Harrod, Domar, Solow, and Robinson 647
- 18 Keynes in the Long Run: A Theory of Wages, Prices, and Employment 675
- 19 Inflation and Employment Empirics in the Keynesian Long Run 754
- Notes 797
- References 857
- Acknowledgments 881
- Index 883
Chapters in this book
- Frontmatter i
- Contents vii
- Notation xi
- Prologue: What Is This Book About? 1
-
Part I. Background: The Rise and Fall
- 1 Introduction: Is This Resurrection Necessary? 17
- 2 What Were They Thinking? Economics Before The General Theory 50
-
Part II. Keynes Defeated: Static Models and the Critics
- 3 The Determination of Output and Employment: First and Second Passes at Equilibrium 77
- 4 Equilibrium with a Given Money Supply: Critical Perspectives on the Second-Pass Model 122
-
Part III. Keynes Vindicated: A Theory of Real-Time Changes
- 5 The Price Mechanism: Gospels According to Marshall and Walras 159
- 6 The General Theory without Rigid Prices and Wages 191
- 7 Dynamics vs. Statics: Can the Economy Get from the Here of Unemployment to the There of Full Employment? 222
- 8 A Dose of Reality: The Evidence of the Great Depression 261
-
Part IV. Building Blocks
- 9 Consumption and Saving 307
- 10 Investment 340
- 11 The Theory of Interest, I: Liquidity Preference in a World of Money and Bonds 376
- 12 The Theory of Interest, II: Liquidity Preference as a Theory of Spreads 409
- 13 Taking Money Seriously 497
-
Part V. Fiscal Policy in Theory and Practice
- 14 Functional Finance and the Stabilization of Aggregate Demand 529
- 15 Did the Obama Stimulus Work? 544
- 16 Functional Finance and the Composition of Aggregate Demand 594
-
Part IV. Keynes in the Long Run
- 17 First Steps into the Long Run: Harrod, Domar, Solow, and Robinson 647
- 18 Keynes in the Long Run: A Theory of Wages, Prices, and Employment 675
- 19 Inflation and Employment Empirics in the Keynesian Long Run 754
- Notes 797
- References 857
- Acknowledgments 881
- Index 883