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- W2008695979 abstract "We analyse the relationship between the Keynesian (post-Keynesian, Kaleckian) and classical perspectives, emphasizing the distinction between two time frames, short term and long term. A model is presented in which the traverse to a long-term classical equilibrium, with prices of production, is obtained as a sequence of short-term Keynesian equilibria (in which outputs are adjusted to demands). In the short term, prices and capital stocks are constant; they are only adjusted in the long term. Prices respond to disequilibria concerning capacity utilization rates. Investment is subject to a financing constraint, in which the provision of loans by the banking system is involved. Loans are modified in response to inflation (monetary policy)." @default.
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- W2008695979 date "1999-12-01" @default.
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- W2008695979 title "Being Keynesian in the Short Term and Classical in the Long Term: The Traverse to Classical Long-Term Equilibrium" @default.
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- W2008695979 doi "https://doi.org/10.1111/1467-9957.00175" @default.
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