Mr Keynes, the Classics and the new Keynesians: A suggested formalisation

IF 0.6 3区经济学 Q4 ECONOMICS

European Journal of the History of Economic Thought Pub Date : 2014-09-03 DOI:10.1080/09672567.2014.881896

Rodolphe Dos Santos Ferreira

引用次数: 12

Abstract

Abstract The paper suggests a new Keynesian model of the General Theory. A reduced form entails a diagram with three curves relating employment and the real wage, which represent the two fundamental classical postulates and the principle of effective demand. This diagram illustrates better than IS–LM the generality of Keynes's theory, clarifying the distinction between voluntary and involuntary unemployment. Other significant features are the role of the distribution of expected interest rates among heterogeneous agents, whether dispersed or concentrated, in shaping the LM curve, as well as the role of wage competitiveness constraints as a foundation of Keynes's relative wage hypothesis.

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凯恩斯先生，经典和新凯恩斯主义者:建议正式化

摘要本文提出了一种新的凯恩斯主义通论模型。一个简化的形式需要一个有三条关于就业和实际工资的曲线的图表，这代表了两个基本的经典假设和有效需求原则。这个图表比IS-LM更好地说明了凯恩斯理论的一般性，澄清了自愿失业和非自愿失业之间的区别。其他重要特征是预期利率在异质主体(无论是分散的还是集中的)之间的分布在塑造LM曲线中的作用，以及作为凯恩斯相对工资假设基础的工资竞争力约束的作用。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

European Journal of the History of Economic Thought Multiple-

CiteScore

1.50

自引率

28.60%

发文量

期刊介绍： The European Journal of the History of Economic Thought (EJHET), a peer-reviewed journal, has quickly established itself as a leading forum for lively discussion on a wide range of issues in the history of economic thought. With contributions from both established international scholars and younger academics, EJHET is entirely pluralist and non-partisan with regard to subjects and methodologies - it does not subscribe to any particular current of thought, nor relate to any one geographic zone. The Managing Editors and Editorial Board and Advisory Board members are drawn from throughout Europe and beyond, and are committed to encouraging scholars from around the world to contribute to international research and debate.