SettingsKeynesian economics
2008-2009 Keynesian resurgence
Starting in 2008, there has been a resurgence of interest in Keynesian economics among policy makers in the world's industrialized economies.
Starting in 2008, there has been a resurgence of interest in Keynesian economics among policy makers in the world's industrialized economies.
2008–2009 Keynesian resurgence
Starting in 2008, there has been a resurgence of interest in Keynesian economics among policy makers in the world's industrialized economies.
Starting in 2008, there has been a resurgence of interest in Keynesian economics among policy makers in the world's industrialized economies.
A Treatise on Money
A Treatise on Money is a work on economics by English economist John Maynard Keynes.
A Treatise on Money is a work on economics by English economist John Maynard Keynes.
A Treatise on Probability
A Treatise on Probability was published by John Maynard Keynes while at Cambridge University in 1921.
A Treatise on Probability was published by John Maynard Keynes while at Cambridge University in 1921.
Balanced budget
A balanced budget is when there is neither a budget deficit or a budget surplus – when revenues equal expenditure – particularly by a government.
A balanced budget is when there is neither a budget deficit or a budget surplus – when revenues equal expenditure – particularly by a government.
Bancor
The Bancor was a supranational currency that John Maynard Keynes and E. F. Schumacher conceptualised in the years 1940-42 and which the United Kingdom proposed to introduce after the Second Worl...
The Bancor was a supranational currency that John Maynard Keynes and E. F. Schumacher conceptualised in the years 1940-42 and which the United Kingdom proposed to introduce after the Second Worl...
Baumol-Tobin model
The Baumol-Tobin model is an economic model of the transactions demand for money as developed independently by William Baumol (1952) and James Tobin (1956).
The Baumol-Tobin model is an economic model of the transactions demand for money as developed independently by William Baumol (1952) and James Tobin (1956).
Baumol–Tobin model
The Baumol-Tobin model is an economic model of the transactions demand for money as developed independently by William Baumol (1952) and James Tobin (1956).
The Baumol-Tobin model is an economic model of the transactions demand for money as developed independently by William Baumol (1952) and James Tobin (1956).
Birmingham School (economics)
The Birmingham School was a school of economic thought that emerged in Birmingham, England during the early nineteenth century, specifically in the Post-Napoleonic depression that affected Engla...
The Birmingham School was a school of economic thought that emerged in Birmingham, England during the early nineteenth century, specifically in the Post-Napoleonic depression that affected Engla...
Cambridge Circus (economics)
The Cambridge Circus or Keynes's Circus was a group of young Cambridge economists closely associated with John Maynard Keynes.
The Cambridge Circus or Keynes's Circus was a group of young Cambridge economists closely associated with John Maynard Keynes.
Capitol Hill Babysitting Co-op
The Capitol Hill Babysitting Cooperative (CHBC) is a cooperative located in Washington D.C., whose purpose is to fairly distribute the responsibility of babysitting between its members.
The Capitol Hill Babysitting Cooperative (CHBC) is a cooperative located in Washington D.C., whose purpose is to fairly distribute the responsibility of babysitting between its members.
Deficit spending
Deficit spending is the amount by which a government, private company, or individual's spending exceeds income over a particular period of time, also called simply "deficit", or "budget deficit"...
Deficit spending is the amount by which a government, private company, or individual's spending exceeds income over a particular period of time, also called simply "deficit", or "budget deficit"...
E. F. Schumacher
Ernst Friedrich "Fritz" Schumacher (16 August 1911 – 4 September 1977) was an internationally influential economic thinker, statistician and economist in Britain, serving as Chief Economic Advis...
Ernst Friedrich "Fritz" Schumacher (16 August 1911 – 4 September 1977) was an internationally influential economic thinker, statistician and economist in Britain, serving as Chief Economic Advis...
Effective demand
In economics, effective demand in a market is the demand for a product or service which occurs when purchasers are constrained in a different market.
In economics, effective demand in a market is the demand for a product or service which occurs when purchasers are constrained in a different market.
Fiscal multiplier
In economics, the fiscal multiplier is the ratio of a change in national income to the change in government spending that causes it.
In economics, the fiscal multiplier is the ratio of a change in national income to the change in government spending that causes it.
Functional finance
Functional finance is an economic theory proposed by Abba P. Lerner, based on effective demand principle and chartalism.
Functional finance is an economic theory proposed by Abba P. Lerner, based on effective demand principle and chartalism.
General disequilibrium
General disequilibrium occurs in macroeconomic theory when prices are fixed in a general equilibrium framework so that they fail to adjust to market clearing levels.
General disequilibrium occurs in macroeconomic theory when prices are fixed in a general equilibrium framework so that they fail to adjust to market clearing levels.
Hydraulic macroeconomics
Hydraulic Macroeconomics is, essentially, a study of the economy that treats money as a form of liquid that circulates through the economic plumbing.
Hydraulic Macroeconomics is, essentially, a study of the economy that treats money as a form of liquid that circulates through the economic plumbing.
International Clearing Union
The International Clearing Union (ICU) was one of the institutions proposed to be set up at the 1944 United Nations Monetary and Financial Conference at Bretton Woods, New Hampshire by British e...
The International Clearing Union (ICU) was one of the institutions proposed to be set up at the 1944 United Nations Monetary and Financial Conference at Bretton Woods, New Hampshire by British e...
John Maynard Keynes
John Maynard Keynes, 1st Baron Keynes, CB FBA was a British economist whose ideas have profoundly affected the theory and practice of modern macroeconomics, as well as the economic policies of g...
John Maynard Keynes, 1st Baron Keynes, CB FBA was a British economist whose ideas have profoundly affected the theory and practice of modern macroeconomics, as well as the economic policies of g...
Keynes effect
The Keynes effect is a term used in economics to describe a situation where a change in interest rates affects expenditure more than it affects savings.
The Keynes effect is a term used in economics to describe a situation where a change in interest rates affects expenditure more than it affects savings.
Keynesian beauty contest
A Keynesian beauty contest is a concept developed by John Maynard Keynes and introduced in Chapter 12 of his work, General Theory of Employment Interest and Money (1936), to explain price fl...
A Keynesian beauty contest is a concept developed by John Maynard Keynes and introduced in Chapter 12 of his work, General Theory of Employment Interest and Money (1936), to explain price fl...
Keynesian cross
In the Keynesian cross diagram (or 45-degree line diagram), a desired total spending (or aggregate expenditure, or "aggregate demand") curve (shown in blue) is drawn as a rising line...
In the Keynesian cross diagram (or 45-degree line diagram), a desired total spending (or aggregate expenditure, or "aggregate demand") curve (shown in blue) is drawn as a rising line...
Keynesian economics
Keynesian economics are the group of macroeconomic schools of thought based on the ideas of 20th-century economist John Maynard Keynes.
Keynesian economics are the group of macroeconomic schools of thought based on the ideas of 20th-century economist John Maynard Keynes.
Keynesian formula
The Keynesian formula was developed by the British economist John Maynard Keynes.
The Keynesian formula was developed by the British economist John Maynard Keynes.
Keynesian Revolution
The Keynesian Revolution was a fundamental reworking of economic theory concerning the factors determining employment levels in the overall economy.
The Keynesian Revolution was a fundamental reworking of economic theory concerning the factors determining employment levels in the overall economy.
Liquidity preference
In macroeconomic theory, Liquidity preference refers to the demand for money, considered as liquidity.
In macroeconomic theory, Liquidity preference refers to the demand for money, considered as liquidity.
Lloyd Metzler
Lloyd Appleton Metzler (1913 – 26 October 1980) was an American economist best known for his contributions to international trade theory.
Lloyd Appleton Metzler (1913 – 26 October 1980) was an American economist best known for his contributions to international trade theory.
Military Keynesianism
Military Keynesianism is a government economic policy in which the government devotes large amounts of spending to the military in an effort to increase economic growth.
Military Keynesianism is a government economic policy in which the government devotes large amounts of spending to the military in an effort to increase economic growth.
Neo-Keynesian economics
Neo-Keynesian economics is a school of macroeconomic thought that was developed in the post-war period from the writings of John Maynard Keynes.
Neo-Keynesian economics is a school of macroeconomic thought that was developed in the post-war period from the writings of John Maynard Keynes.
Neoclassical synthesis
Neoclassical synthesis is a postwar academic movement in economics that attempts to absorb the macroeconomic thought of John Maynard Keynes into the thought of neoclassical economics.
Neoclassical synthesis is a postwar academic movement in economics that attempts to absorb the macroeconomic thought of John Maynard Keynes into the thought of neoclassical economics.
New Keynesian economics
New Keynesian economics is a school of contemporary macroeconomics that strives to provide microeconomic foundations for Keynesian economics.
New Keynesian economics is a school of contemporary macroeconomics that strives to provide microeconomic foundations for Keynesian economics.
Paradox of flexibility
The Paradox of flexibilty is when a debt deflation shock creates a situation where increased price and wage flexibility results in decreased total demand.
The Paradox of flexibilty is when a debt deflation shock creates a situation where increased price and wage flexibility results in decreased total demand.
Paradox of thrift
The paradox of thrift is a paradox of economics, popularized by John Maynard Keynes, though it had been stated as early as 1714 in The Fable of the Bees, and similar sentiments date to antiquity.
The paradox of thrift is a paradox of economics, popularized by John Maynard Keynes, though it had been stated as early as 1714 in The Fable of the Bees, and similar sentiments date to antiquity.
Paradox of toil
The paradox of toil is the economic hypothesis that total employment will shrink if everybody wants to work more when "the short-term nominal interest rate is zero and there are deflationary pre...
The paradox of toil is the economic hypothesis that total employment will shrink if everybody wants to work more when "the short-term nominal interest rate is zero and there are deflationary pre...
Peter Bofinger
Peter Bofinger (born September 18, 1954) is a German economist and member of the German Council of Economic Experts.
Peter Bofinger (born September 18, 1954) is a German economist and member of the German Council of Economic Experts.
Post Keynesian economics
Post Keynesian economics is a school of economic thought with its origins in The General Theory of John Maynard Keynes, although its subsequent development was influenced to a large degree b...
Post Keynesian economics is a school of economic thought with its origins in The General Theory of John Maynard Keynes, although its subsequent development was influenced to a large degree b...
Post-war displacement of Keynesianism
The Post-war displacement of Keynesianism was a series of events which from mostly unobserved beginnings in the late 1940s, had by the early 1980s led to the replacement of Keynesian economics ...
The Post-war displacement of Keynesianism was a series of events which from mostly unobserved beginnings in the late 1940s, had by the early 1980s led to the replacement of Keynesian economics ...
Speculative demand
Speculative demand is the demand for financial assets, such as securities, money or foreign currency that is not dictated by real transactions such as trade, or financing.
Speculative demand is the demand for financial assets, such as securities, money or foreign currency that is not dictated by real transactions such as trade, or financing.
Sticky (economics)
Sticky, in the social sciences and particularly economics, describes a situation in which a variable is resistant to change.
Sticky, in the social sciences and particularly economics, describes a situation in which a variable is resistant to change.
Stimulus (economics)
In economics, stimulus refers to attempts to use monetary or fiscal policy to stimulate the economy.
In economics, stimulus refers to attempts to use monetary or fiscal policy to stimulate the economy.
Supply creates its own demand
"Supply creates its own demand" is the formulation of Say's law by John Maynard Keynes, and is considered by him one of the defining characteristics of classical economics.
"Supply creates its own demand" is the formulation of Say's law by John Maynard Keynes, and is considered by him one of the defining characteristics of classical economics.
The General Theory of Employment, Interest and Money
The General Theory of Employment, Interest and Money was written by the English economist John Maynard Keynes.
The General Theory of Employment, Interest and Money was written by the English economist John Maynard Keynes.
Transactions demand
Transactions demand, in economic theory, specifically Keynesian economics, is one of the determinants of demand for money, the others being speculative demand and precautionary demand.
Transactions demand, in economic theory, specifically Keynesian economics, is one of the determinants of demand for money, the others being speculative demand and precautionary demand.
Transfer payments multiplier
The Transfer payments multiplier (or Transfer payment multiplier) is the multiple by which Aggregate demand will increase, when there is an increase in transfer payments (e.g.
The Transfer payments multiplier (or Transfer payment multiplier) is the multiple by which Aggregate demand will increase, when there is an increase in transfer payments (e.g.
Treasury view
In macroeconomics, particularly in the history of economic thought, the Treasury view is the assertion that fiscal policy has no effect on the total amount of economic activity and unemploym...
In macroeconomics, particularly in the history of economic thought, the Treasury view is the assertion that fiscal policy has no effect on the total amount of economic activity and unemploym...
Underconsumption
In underconsumption theory in economics, recessions and stagnation arise due to inadequate consumer demand relative to the amount produced.
In underconsumption theory in economics, recessions and stagnation arise due to inadequate consumer demand relative to the amount produced.
Underemployment equilibrium
In Keynesian economics, underemployment equilibrium refers to a situation with a persistent shortfall relative to full employment and potential output so that unemployment is higher than at the ...
In Keynesian economics, underemployment equilibrium refers to a situation with a persistent shortfall relative to full employment and potential output so that unemployment is higher than at the ...
We are all Keynesians now
"We are all Keynesians now" is a famous phrase coined by Milton Friedman and attributed to U.S. president Richard Nixon.
"We are all Keynesians now" is a famous phrase coined by Milton Friedman and attributed to U.S. president Richard Nixon.