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  • Modeling Economic Instability: an History of early Macroeoonomics
    • Part I: Instability and cycles
    • Part II: Economic policy, instability and collapse
    • Part III: Coordination and global instability
  • Modeling Economic Instability in the Post-War Period

Category: Part III

Walking the tightrope: Klein, Patinkin and Schelling on price flexibility and stability

January 14, 2022 Michaël Assous and Vincent Carret

As Paul Samuelson’s first PhD student, Lawrence Klein was well positioned to endorse the view that any macroeconomic models should…

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Posted in: Part III

Waiting for the judgment day: Hansen, Samuelson, Pigou and Klein on the classical stationary state

December 18, 2021 Michaël Assous and Vincent Carret

This post is based on parts of an article accessible here. All comments are welcomed. The multiplier-accelerator model (see this…

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Posted in: Part III

Bridging comparative statics and dynamics in Samuelson’s 1941 IS-LM model

November 18, 2021 Michaël Assous and Vincent Carret

This post is based on parts of chapter 7 of our book that have already been published here. All comments…

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Posted in: Part II, Part III

Out of the beaten path: Lundberg’s take on instability

November 6, 2021 Michaël Assous and Vincent Carret

The idea that the economy can be fluctuating even if markets are at equilibrium was built into early macro-dynamic models.…

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Posted in: Part II, Part III Filed under: business cycle, disequilibrium
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