Uncertainty and Quantity Adjustment in The General Theory
Αποθηκεύτηκε σε:
| Συγγραφέας: | |
|---|---|
| Μορφή: | artículo original |
| Κατάσταση: | Versión publicada |
| Ημερομηνία έκδοσης: | 2009 |
| Περιγραφή: | Robert Clower develops an interpretation of Keynes’ criticism of capitalist economy, by which uncertainty explains the systems’ inability to reach equilibrium in all markets, and specially in the labor market. Non-compliance with the main neoclassical assumption, perfect information, makes interest rate lose its regulating role and the system is unable to adjust itself via price movements. In presence of unemployment, individual revenue is no more the result of an optimizing process led by economic agents, and any external shock provokes a quantity adjustment called by Keynes “the multiplier effect”, which leaves the labor market without instruments to reach equi- librium. |
| Χώρα: | Portal de Revistas UCR |
| Ίδρυμα: | Universidad de Costa Rica |
| Repositorio: | Portal de Revistas UCR |
| Γλώσσα: | Español |
| OAI Identifier: | oai:portal.revistas.ucr.ac.cr:article/9037 |
| Διαθέσιμο Online: | https://revistas.ucr.ac.cr/index.php/reconomicas/article/view/9037 |
| Λέξη-Κλειδί : | Tasa de interés Racionamiento Propensión a consumir Incertidumbre Información perfecta Equilibrio Keynes Desempleo Unemployment Interest rate Rationing Marginal propensity to consume Uncertainty Perfect information Equilibrium |