JOHN MAYNARD KEYNES ranks with Adam Smith and Karl Marx among economists in the influence that his views have exerted on the general public. He had the vision to see that economics lacked a general ...

The two most prominent theories of macroeconomics to emerge during the 20 th century are the Keynesian Theory of Money and the Monetarism Theory. Keynesian thought traces back to the early part of the ...

Keynes answered to critics of the General Theory, in 1937, that they failed to realize that there were two main innovations in that work. The first, was the relationship between money demand and ...

Central banks use macroeconomic models to help frame the issues that they face, to mold their ideas, and to guide them in their decisionmaking. While a wide range of models are available, economists ...

A recent post from Daniel Lacalle, “How Keynesians Got The US Economy Wrong Again,” exposed the widening gap between John Maynard Keynes’ economic theory and reality. Despite the confident forecasts ...

Consumption-habits have become an integral component in new Keynesian models. However, consumption-habits can be modeled in a host of different ways and this diversity is reflected in the literature.

Keynes was an influential policy analyst and economist who lived from 1883 to 1946. His seminal work, “The General Theory of Employment Interest and Money,” became a founding force behind modern ...

The income expenditure model of economics was developed by John Maynard Keynes to explain fluctuations in production of goods and services and spending. The model basically states that we produce as ...

Just how important is money? Few would deny that it plays a key role in the economy.­ During the Great Depression of the 1930s, existing economic theory was unable either to explain the causes of the ...