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.…