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- W64070753 abstract "On explaining the process of growth cycle in terms of changes in the expected marginal productivity of capital, we have assumed in Chapter 3 that the cyclical limits of the output-capital ratio are constant over all growth cycles, If this assumption is true, the ratio would virtually remain constant over a long period of cyclical economic growth. We face two questions. The first is whether such a long-run tendency of the output-capital ratio can be observed or not, and the second is whether we are able to explain the behavior by our theoretical model of monetary growth. With respect to the first question we shall summarize our observations in the Japanese economy later. To attack the second question, we shall refer to, as we have already mentioned in Chapter 2, peaks of growth cycles where the economy, we shall assume, reaches full employment under a flexible real wage rate. We shall attempt to construct a model which characterizes the process of monetary growth over cyclical fluctuations." @default.
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- W64070753 date "1974-01-01" @default.
- W64070753 modified "2023-09-22" @default.
- W64070753 title "A Neo-Keynesian Theory of Monetary Growth" @default.
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- W64070753 doi "https://doi.org/10.1007/978-3-642-48150-5_6" @default.
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