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- W3188325061 abstract "This chapter presents a critical re-examination of the Clower-Leijonhufvud approach to Keynesian theory, stressing as central elements the lack of information available to atomistic economic agents in a decentralised environment, and the insistence on multi-period analysis. Such a reexamination is necessary to avoid the currently widespread identification of Keynesian macroeconomics with models of exogenous prices or of non-atomistic agents.1 The analysis denies the frequent association between Clower and Leijonhufvud and the fix-price method, and contributes to the debate between ‘atomistic’ and ‘non-atomistic’ approaches to Keynesian issues." @default.
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- W3188325061 date "1992-01-01" @default.
- W3188325061 modified "2023-09-26" @default.
- W3188325061 title "Information Failures and Wandering Systems in Keynesian Economics: Clower-Leijonhufvud Revisited" @default.
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