peer reviewedAxel Leijonhufvud’s "On Keynesian Economics and the Economics of Keynes" (1968) definitely belongs to the category of 'classic' books. Its message — decentralised economies are prone to large increases in unemployment since communication failures prevent the optimal coordination of private decisions — is by now well understood. In this paper, we argue that even though most commentators correctly identify this message, they overlook two crucial aspects of Leijonhufvud’s demonstration. These aspects relate to what the author calls the 'aggregative structure' and the 'transaction structure' of macro-models. We show that the former type of structure plays a central role in the emergence of unemployment in the 'Economics...
In this article, we set out to demonstrate that the idea commonly found in macroeconomics textbooks ...
One of the tasks assigned to mainstream economists is to legitimize the significance of unemployment...
This paper provides an outline of the historical development of Keynesian macroeconomics. It first a...
peer reviewedAxel Leijonhufvud’s "On Keynesian Economics and the Economics of Keynes" (1968) d...
The purpose of this paper is to highlight the curiously circular course followed by mainstream macro...
The aim of this paper is to examine critically Lucas’ arguments against Keynes’s General Theory and ...
The purpose of this paper is to highlight the curiously circular course followed by mainstream macro...
Confirming Robinson’s Statement? A Lakatosian Analysis of Keynes and his Immediate Orthodoxy ...
Formal developments of the Keynes's General Theory, while attempting to achieve a new classical synt...
We construct a stylised macro-model with goods and labour market imperfections to show that the econ...
This paper sets out my response to the articles by Paul Davidson in the Journal of Post Keynesian Ec...
International audienceIn this article, we set out to demonstrate that the idea commonly found in mac...
Keynes had a lot of plausible things to say about unemployment and its causes. His ‘mercurial mind’,...
This paper takes Keynesian macroeconomics and growth theory as its starting point and uses it to ana...
The Great Depression of the 1930s with its dramatic unemployment rates was one of the most striking ...
In this article, we set out to demonstrate that the idea commonly found in macroeconomics textbooks ...
One of the tasks assigned to mainstream economists is to legitimize the significance of unemployment...
This paper provides an outline of the historical development of Keynesian macroeconomics. It first a...
peer reviewedAxel Leijonhufvud’s "On Keynesian Economics and the Economics of Keynes" (1968) d...
The purpose of this paper is to highlight the curiously circular course followed by mainstream macro...
The aim of this paper is to examine critically Lucas’ arguments against Keynes’s General Theory and ...
The purpose of this paper is to highlight the curiously circular course followed by mainstream macro...
Confirming Robinson’s Statement? A Lakatosian Analysis of Keynes and his Immediate Orthodoxy ...
Formal developments of the Keynes's General Theory, while attempting to achieve a new classical synt...
We construct a stylised macro-model with goods and labour market imperfections to show that the econ...
This paper sets out my response to the articles by Paul Davidson in the Journal of Post Keynesian Ec...
International audienceIn this article, we set out to demonstrate that the idea commonly found in mac...
Keynes had a lot of plausible things to say about unemployment and its causes. His ‘mercurial mind’,...
This paper takes Keynesian macroeconomics and growth theory as its starting point and uses it to ana...
The Great Depression of the 1930s with its dramatic unemployment rates was one of the most striking ...
In this article, we set out to demonstrate that the idea commonly found in macroeconomics textbooks ...
One of the tasks assigned to mainstream economists is to legitimize the significance of unemployment...
This paper provides an outline of the historical development of Keynesian macroeconomics. It first a...