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The General Theory

Tyler Beck Goodspeed

in Rethinking the Keynesian Revolution: Keynes, Hayek, and the Wicksell Connection

Published in print:
2012
Published Online:
September 2012
ISBN:
9780199846658
eISBN:
9780199950126
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199846658.003.0004
Subject:
Economics and Finance, Economic Systems

This chapter takes up the second Keynesian iteration of the Wicksell connection. The chapter examines, in particular, how Keynes’s marginal propensity to consume, liquidity preference, marginal ... More


The Response of Consumption to Unanticipated Changes in Income

Tullio Jappelli and Luigi Pistaferri

in The Economics of Consumption: Theory and Evidence

Published in print:
2017
Published Online:
October 2017
ISBN:
9780199383146
eISBN:
9780199383160
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199383146.003.0009
Subject:
Economics and Finance, Macro- and Monetary Economics

In this chapter we examine tests of the hypothesis that consumption will respond to unanticipated income changes and that the response will depend on the persistence of the shock and on the degree of ... More


Credit and Business Cycles

L. Albert Hahn

in Economic Theory of Bank Credit

Published in print:
2015
Published Online:
November 2015
ISBN:
9780198723073
eISBN:
9780191789649
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198723073.003.0007
Subject:
Economics and Finance, Macro- and Monetary Economics, Financial Economics

This section summarises Hahn’s monetary theory of the business cycle. In the upswing, low interest rates make new businesses seem profitable. At the height of the boom firms are confronted with ... More


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