The Structure of Keynesian Macrodynamics: A Framework for Future Research
UTS Working Paper No. 129
81 Pages Posted: 27 Jan 2006
Date Written: May 2003
Abstract
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.
Suggested Citation: Suggested Citation
Chiarella, Carl and Flaschel, Peter and Zhu, Peiyuan, The Structure of Keynesian Macrodynamics: A Framework for Future Research (May 2003). UTS Working Paper No. 129, Available at SSRN: https://ssrn.com/abstract=878249 or http://dx.doi.org/10.2139/ssrn.878249
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