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The Years of High Theory: I

Ernesto Screpanti and Stefano Zamagni

in An Outline of the History of Economic Thought

Published in print:
2005
Published Online:
October 2005
ISBN:
9780199279142
eISBN:
9780191602887
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199279144.003.0008
Subject:
Economics and Finance, History of Economic Thought

Assesses the reasons for the crisis of neoclassical theory in the inter-war period in the light of 1929 crisis and the ensuing depression. Reconstructs the emergence of the Keynesian theoretical ... More


Keynes and Capitalism: The Case of Japan

Toshiaki Hirai, Maria Cristina Marcuzzo, and Perry Mehrling

in Keynesian Reflections: Effective Demand, Money, Finance, and Policies in the Crisis

Published in print:
2013
Published Online:
May 2013
ISBN:
9780198092117
eISBN:
9780199082506
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198092117.003.0005
Subject:
Economics and Finance, History of Economic Thought

This chapter applies Keynes’s principle of effective demand to re-interpret the analysis of Japan’s lost decade(s) by Krugman, McKinnon, and Koo. The analyses by Krugman, McKinnon, and Koo are shown ... More


Liquidity Preference of Banks and Crises

Toshiaki Hirai, Maria Cristina Marcuzzo, and Perry Mehrling

in Keynesian Reflections: Effective Demand, Money, Finance, and Policies in the Crisis

Published in print:
2013
Published Online:
May 2013
ISBN:
9780198092117
eISBN:
9780199082506
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198092117.003.0008
Subject:
Economics and Finance, History of Economic Thought

The chapter proposes that Keynes’s liquidity preference is a theory of asset choice according to which asset returns comprise both a money reward (incomes generated by the asset or changes in its ... More


The Years of High Theory: I

Ernesto Screpanti and Stefano Zamagni

in An Outline of the History of Economic Thought

Published in print:
1995
Published Online:
November 2003
ISBN:
9780198774556
eISBN:
9780191717383
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198774559.003.0008
Subject:
Economics and Finance, History of Economic Thought

Assesses the reasons for the crisis of neoclassical theory in the inter‐war period in the light of 1929 crisis and the ensuing depression. Reconstructs the emergence of the Keynesian theoretical ... More


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