Arbeitspapier
The comparative statics of effective demand
Keynes introduces the term 'effective demand' in chapter 3 of the General Theory as designating the point of intersection of two functions: the 'aggregate demand function' (D) and the 'aggregate supply function' (Z). For the first time in the literature, I here specify exact functional forms for the D and Z functions and run numerical simulations which allow to study the comparative statics of the model in the face of various 'shocks'. The demonstration of how the D/Z model actually works will hopefully prove useful for future students of the economics of Keynes.
- Language
-
Englisch
- Bibliographic citation
-
Series: FMM Working Paper ; No. 3
- Classification
-
Wirtschaft
History of Economic Thought: Individuals
General Aggregative Models: Keynes; Keynesian; Post-Keynesian
- Subject
-
Keynes
effective demand
D/Z model
- Event
-
Geistige Schöpfung
- (who)
-
Hartwig, Jochen
- Event
-
Veröffentlichung
- (who)
-
Hans-Böckler-Stiftung, Macroeconomic Policy Institute (IMK), Forum for Macroeconomics and Macroeconomic Policies (FMM)
- (where)
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Düsseldorf
- (when)
-
2017
- Handle
- Last update
-
10.03.2025, 11:45 AM CET
Data provider
This object is provided by:
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ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Hartwig, Jochen
- Hans-Böckler-Stiftung, Macroeconomic Policy Institute (IMK), Forum for Macroeconomics and Macroeconomic Policies (FMM)
Time of origin
- 2017
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