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4 publications found, searching for 'Tracy Mott '
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Working Paper No. 25
June 07, 1989
Kaleckianism vs. “New” Keynesianism
AbstractThe economics of Kalecki and of the New Keynesianism exhibit remarkable parallels. The major doctrine they have in common is that of business net worth, or equity, as the major determinant of business expansion. The New Keynesians arrive at their understanding of this point by reasoning from rational behavior in the face of informational imperfections. […]
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Working Paper No. 21
April 10, 1989
The Structure of Class Conflict in a Kaleckian-Keynesian Model
AbstractThis paper seeks to explore this issue of the existence and nature of class conflict within a picture of the economy that could be called Kaleckian-Keynesian. Though the particular model we will use owes somewhat more to Kalecki than Keynes, it hopefully does not violate the spirit of Keynes very much, and in fact it […]
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Working Paper No. 18
March 08, 1989
Profitability and the Time-varying Liquidity Premium in the Term Structure of Interest Rates
AbstractThere have been numerous empirical studies of the term structure. Broadly, the evidence may be said to be consistent with some influence from expectations plus the existence of a liquidity premium. Long rates or the spread between long and short rates have seemed to be systematically related to expectations of future rates, though the expectations […]
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Working Paper No. 12
November 01, 1988
The Real Wage and the Marginal Product of Labor
AbstractAs I see it, the errors in Keynes’s analysis in chapter 2 of the General Theorv were his acceptance of diminishing returns in the short-period relation between output and labor employed, and of perfect competition in the product market. These "errors," however, are easily corrected and do not alter Keynes’s basic and correct ideas—that employment […]
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