The Structure of Keynesian Macrodynamics: A Framework for Future Research

UTS Working Paper No. 129

81 Pages Posted: 27 Jan 2006

See all articles by Carl Chiarella

Carl Chiarella

University of Technology, Sydney - UTS Business School, Finance Discipline Group

Peter Flaschel

Bielefeld University - Department of Business Administration and Economics

Peiyuan Zhu

University of Sydney

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

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

Carl Chiarella (Contact Author)

University of Technology, Sydney - UTS Business School, Finance Discipline Group ( email )

PO Box 123
Broadway, NSW 2007
Australia
+61 2 9514 7719 (Phone)
+61 2 9514 7711 (Fax)

HOME PAGE: http://www.business.uts.edu.au/finance/

Peter Flaschel

Bielefeld University - Department of Business Administration and Economics ( email )

P.O. Box 100131
D-33501 Bielefeld, NRW 33501
Germany

Peiyuan Zhu

University of Sydney ( email )

University of Sydney
Sydney, NSW 2006
Australia

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