Matches in SemOpenAlex for { <https://semopenalex.org/work/W2743452080> ?p ?o ?g. }
Showing items 1 to 51 of
51
with 100 items per page.
- W2743452080 abstract "In the real world, prices do not behave symmetrically. Usually, nominal wages and prices are sticky downward but a lot more flexible upward; the latter is illustrated by inflationary and hyperinflationary processes. However, most mainstream economics is built upon the assumption that nominal prices are equally flexible in both directions. This leads to quite unrealistic and erroneous predictions as far as downturn in economic activity is concerned. Given price asymmetry, it is necessary to do separate analyses: on one hand, full-employment macroeconomics (price equilibrium macroeconomics) and, on the other, the macroeconomics of recession and depression (Keynesian macroeconomics). Prices play a role in the first case, but not in the second one. The present paper aims at pointing out the need for reconstructing macroeconomics from a realistic point of view. It argues that price downward stickiness must be a fundamental assumption in any economic model which tries to explain and predict real-world market behavior as well as recommend economic policies. It also claims that Keynesian macroeconomics has to be the point of departure of a realistic reconstruction of macroeconomic theory. Finally, it maintains that price downward rigidity fits perfectly well the Keynesian model, while this does not happen with either the New Keynesian or the Post-Keynesian models." @default.
- W2743452080 created "2017-08-17" @default.
- W2743452080 creator A5055053374 @default.
- W2743452080 date "2017-07-06" @default.
- W2743452080 modified "2023-09-23" @default.
- W2743452080 title "Asymmetric Price Adjustment: The Missing Link in Keynesian Macroeconomics" @default.
- W2743452080 hasPublicationYear "2017" @default.
- W2743452080 type Work @default.
- W2743452080 sameAs 2743452080 @default.
- W2743452080 citedByCount "0" @default.
- W2743452080 crossrefType "posted-content" @default.
- W2743452080 hasAuthorship W2743452080A5055053374 @default.
- W2743452080 hasConcept C10688316 @default.
- W2743452080 hasConcept C126285488 @default.
- W2743452080 hasConcept C139719470 @default.
- W2743452080 hasConcept C162324750 @default.
- W2743452080 hasConcept C165556158 @default.
- W2743452080 hasConcept C195742910 @default.
- W2743452080 hasConceptScore W2743452080C10688316 @default.
- W2743452080 hasConceptScore W2743452080C126285488 @default.
- W2743452080 hasConceptScore W2743452080C139719470 @default.
- W2743452080 hasConceptScore W2743452080C162324750 @default.
- W2743452080 hasConceptScore W2743452080C165556158 @default.
- W2743452080 hasConceptScore W2743452080C195742910 @default.
- W2743452080 hasLocation W27434520801 @default.
- W2743452080 hasOpenAccess W2743452080 @default.
- W2743452080 hasPrimaryLocation W27434520801 @default.
- W2743452080 hasRelatedWork W1516220468 @default.
- W2743452080 hasRelatedWork W1562991713 @default.
- W2743452080 hasRelatedWork W1569056703 @default.
- W2743452080 hasRelatedWork W2004746748 @default.
- W2743452080 hasRelatedWork W2049652915 @default.
- W2743452080 hasRelatedWork W2093851264 @default.
- W2743452080 hasRelatedWork W2103159972 @default.
- W2743452080 hasRelatedWork W2109528292 @default.
- W2743452080 hasRelatedWork W2204029152 @default.
- W2743452080 hasRelatedWork W2321449802 @default.
- W2743452080 hasRelatedWork W2480038521 @default.
- W2743452080 hasRelatedWork W2504696904 @default.
- W2743452080 hasRelatedWork W2607318265 @default.
- W2743452080 hasRelatedWork W2760254468 @default.
- W2743452080 hasRelatedWork W2982096723 @default.
- W2743452080 hasRelatedWork W3121530395 @default.
- W2743452080 hasRelatedWork W3124417938 @default.
- W2743452080 hasRelatedWork W3125213505 @default.
- W2743452080 hasRelatedWork W31255663 @default.
- W2743452080 hasRelatedWork W3125773118 @default.
- W2743452080 isParatext "false" @default.
- W2743452080 isRetracted "false" @default.
- W2743452080 magId "2743452080" @default.
- W2743452080 workType "article" @default.