English, Article, Journal or magazine article edition: Capital accumulation, technical progress and wage flexibility: Keynes´approach to aggregate supply and demand analysis revisited Alfonso Palacio Vera

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Bookmark: http://trove.nla.gov.au/version/9756
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Capital accumulation, technical progress and wage flexibility: Keynes´approach to aggregate supply and demand analysis revisited
Author
  • Alfonso Palacio Vera
Physical Description
  • preprint
Notes
  • The aggregate supply and demand model (AS-AD) posited by Keynes in the General Theory and elaborated by Weintraub and Davidson is analysed by inserting a CES production function. We perform a comparative statics analysis where the effects on the equilibrium level of employment and the price level of changes in a wide range of variables and parameters are worked out. The effect of changes in the money wage rate on the level of employment and the price level are found to be ambiguous. Finally, we argue that this approach provides a more consistent approach than conventional AS-AD analysis does.
  • RePEc:ucm:doctra:03-12
Language
  • English
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