书目名称 | Keynes’sGeneral Theory Reconsidered in the Context of the Japanese Economy |
编辑 | Masayuki Otaki |
视频video | |
概述 | Builds a dynamic and analytical microeconomic foundation of The General Theory of Employment, Interest and Money.Develops the concept of liquidity in relation to speculative bubbles and provides a rig |
丛书名称 | SpringerBriefs in Economics |
图书封面 |  |
描述 | .This book reconsiders Keynes’s .The General Theory of Employment, Interest and Money. and establishes a new interpretation. In contrast to the existing models, this book finds that the stickiness in the nominal wage is not crucial for his theory. Moreover, the author has also succeeds in capturing the concept of liquidity in a rigorous mathematical model. In conjunction with the development of the concept of liquidity, the separation of the decision between savings and capital investment, which plays a key role in the principle of effective demand and denies Say’s law, is exactly and originally formulated...The theory thus developed is applicable to elucidating some serious political economic causes that entrap the long-stagnated Japanese economy. For example, an analytical explanation is provided about why disinflation/deflation incessantly progresses despite the exorbitant expansionary monetary policy (.ijigen kin-yuu seisaku.) by the Bank of Japan. This phenomenon is an unsolvable question from the quantity-theoretic approaches (e.g., monetarism and new Keynesianism) which, although they differ in assumptions concerning the length of adjustment periods, commonly assume that the |
出版日期 | Book 2016 |
关键词 | Decentralization between investment and saving; Effective demand; Involuntary unemployment under the f |
版次 | 1 |
doi | https://doi.org/10.1007/978-4-431-55915-3 |
isbn_softcover | 978-4-431-55913-9 |
isbn_ebook | 978-4-431-55915-3Series ISSN 2191-5504 Series E-ISSN 2191-5512 |
issn_series | 2191-5504 |
copyright | Development Bank of Japan 2016 |