Papers in Economics and SociologyLange, O. "The theory of the Multiplier", Econometrica, Vol.XI, p.227, 1943.Lange O., The Theory of Multiplier, Reprinted from ECONOMENTRCA, vol. 11. nos 3 and 4, July- October 1943, Cowles Foundation Paper 1.Lange, O., The Theory of the Multiplier...
Keynesian economists argue that the velocity of circulation is unstable and changes rapidly and mayoffsetchanges in the money stock. See alsoTRANSMISSION MECHANISM,MONEY SUPPLY/SPENDING LINKAGES,MONETARY POLICY. Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005...
Vector autoregression and the dynamic multiplier: a historical review Sheldon HStein,Frank MSong, inJournal of Policy Modeling, 2002 Friedman and Meiselman tested the Monetarist theory against the Keynesian theory by pitting thequantity theory of moneydirectly against the multiplier theory in a set of...
According to real business cycle theory the money multiplier explains money-output correlations because nominal policy is impotent. This paper re-examines the key assumptions of the multiplier approach and presents empirical evidence for five countries. The main conclusions are as follows. First, base...
Explain the key concepts of Keynesian economics. Why do Keynesians still support monetary and fiscal policy intervention even though it is clearly not capable of perfectly "fine tuning" the economy? D How is the Keynesian expenditure multiplier implicit in the Keynesian version o...
Moreover, if the consumption function is known, it is possible to show, by a mathematical formula (Kahn's multiplier), by how much the community's income or alternatively employment must change to reconcile divergent saving and investment plans. The novelty of Keynes's treatment, as compared ...
theory is one of two broad multipliers in economics. The other multiplier is known as the money multiplier. This multiplier refers to the money creation process that results from a system of fractional reserve banking.7The money multiplier is less controversial than its Keynesian fiscal counterpart....
First, linkages between firms through intermediate goods deliver a multiplier similar to the one associated with capital in a neoclassical growth model. Because the intermediate goods share of output is about one-half, this multiplier is substantial. Second, just as a chain is only as strong as ...
On the Origin of Samuelson's Multiplier-Accelerator Model History of Political Economy 34.1 (2002) 207-218 It is not always easy to pinpoint the intellectual provenance of a scientific theory or model. Many ideas ... A Heertje,P Heemeijer - 《History of Political Economy》 被引量: 21发表...
Keynes believed there was a secondary benefit of government spending, something known as themultiplier effect. This theory suggests that $1 of government spending could increase total economic output by more than $1. The idea is that when the $1 changes hands, so to speak, the party on the...