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the classical and neoclassical theory of the rate of interest by pointing out that the standard theory was one equation … in Keynes's theory was determined solely by the demand and supply of money. Hutchison had pointed this out in 1977 but …
Persistent link: https://www.econbiz.de/10012911542
Hawtrey and Dennis Robertson of Keynes's Theory of Liquidity Preference, which Harrod described in an August 30 1935, letter … to Keynes as a major reconstruction of interest rate theory. Harrod stated that the classical (neoclassical) theory of ….” Of course, Harrod is talking about the equation on page 199 of the General Theory which had two independent variables, Y …
Persistent link: https://www.econbiz.de/10012911779
Keynes was extremely clear in Section Four of Chapter 21 of the General Theory that his theory of the rate of interest …, Keynes's major contribution to economic theory and monetary economics. It is supported my another related model, which Keynes … multiple independent variables.Opposing Keynes's work in the General Theory and his February, 1937, QJE article, where Keynes …
Persistent link: https://www.econbiz.de/10012915286
curve to have a determinate theory of the rate of interest. Keynes sent his formal, unpublished comments to J. Robinson, A …. Robinson, and R. Kahn knew for certain by 1937 that Keynes’s theory of the rate of interest, as presented in both the General … Theory and the Quarterly Journal of Economics reply article, published earlier in February 1937, was an IS-LP(LM) approach …
Persistent link: https://www.econbiz.de/10014119052
suspect, her claim that Keynes had a purely monetary theory of the rate of interest, her claim that there is no IS-LM model in … the General Theory, her claim that users of the IS-LM model that Keynes created are Bastard Keyesians, her claim that J … theory of value, her claim that Kahn was responsible for developing Keynes’s aggregate supply function in the General Theory …
Persistent link: https://www.econbiz.de/10013242515
Theory between 1930 and February, 1936, given the nature of these exchanges.Keynes is very specific as regards his Liquidity … preference theory of the rate of interest:“You do not seem to realize that if you are right the whole theory of liquidity …, Keynes spent a great deal of time and effort trying to correct her many errors about his Liquidity Preference Theory of the …
Persistent link: https://www.econbiz.de/10013242633
anything Keynes was talking about in either the A Treatise on Probability or General Theory. Keynes only realized this only …
Persistent link: https://www.econbiz.de/10013242857