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• W3124104799 abstract "This chapter attempts to re-situate the theory of effective demand within a dynamic non-equilibrium context. Existing theories of effective demand, which derive from the works of Keynes and Kalecki, are generally posed in static equilibrium terms. That is to say, they serve to define a given level of output which corresponds to the equilibrium point between aggregate demand and supply. We propose to generalise this analysis in three ways. First, we shall extend the analysis to encompass a dynamic, that is, moving short-run path of output, rather than a merely static level. Second, we shall show that this dynamic short-run path need not imply an equilibrium analysis, since it can arise from either stochastically sustained cycles or deterministic limit cycles.1 And third, we will provide generalisation of the theory of effective demand and a possible solution in the instability of warranted growth." @default.
• W3124104799 created "2021-02-01" @default.
• W3124104799 creator A5078408839 @default.
• W3124104799 date "1992-01-01" @default.
• W3124104799 modified "2023-10-17" @default.
• W3124104799 title "A Dynamic Approach to the Theory of Effective Demand" @default.
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• W3124104799 doi "https://doi.org/10.1007/978-1-349-11786-4_14" @default.
• W3124104799 hasPublicationYear "1992" @default.
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