As Paul Samuelson’s first PhD student, Lawrence Klein was well positioned to endorse the view that any macroeconomic models should…
This post is based on parts of an article accessible here. All comments are welcomed. The multiplier-accelerator model (see this…
This post is based on parts of chapter 7 of our book that have already been published here. All comments…
The idea that the economy can be fluctuating even if markets are at equilibrium was built into early macro-dynamic models.…
The Great Depression led to a profound renewal of how problems of governmental fiscal policy were tackled. With reference to…
This post is based on parts of a working paper accessible here. All comments are welcomed. In a recent issue…
This post is based on some parts of chapter 4 of the book. All comments are welcomed. “Well, in OUR…
This post is based on a working paper accessible here. All comments are welcomed. At the turn of the 1920s-1930s,…
This post is based on some parts (mainly part I.2) of a working paper accessible here. All comments are welcomed.…
Ach, mit offenen Armen stand ich gegen den Abgrund und atmete hinab! Hinab! Goethe, Die Leiden des jungen Werther Wenn…