Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/64410 
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dc.contributor.authorFiorito, Lucaen
dc.contributor.authorVernengo, Matíasen
dc.date.accessioned2012-09-28T12:38:33Z-
dc.date.available2012-09-28T12:38:33Z-
dc.date.issued2008-
dc.identifier.urihttp://hdl.handle.net/10419/64410-
dc.description.abstractThis paper suggests that Clark's views regarding the Keynesian Revolution illuminate some of the limitations of the Keynesian orthodoxy that developed after the war, bringing more institutional detail and a greater preocupation with dynamic analysis. Clark developed the multiplier in dynamic terms and coupled it with the accelerator to provide the framework for business cycle theory. His analysis was not formalized and emphasized time lags and non-linearities, similarly to Harrod. Also Clark was concerned with the inflationary consequences of Keynesian policies and he was dissatisfied with those mechanical interpretations of the income flow analysis, which came to be known as hydraulic Keynesianism. Clark's policy conclusions emphasized the need of balance between employment creation and price stability, and the need of cooperation between social groups.en
dc.language.isoengen
dc.publisher|aThe University of Utah, Department of Economics |cSalt Lake City, UTen
dc.relation.ispartofseries|aWorking Paper |x2008-07en
dc.subject.jelB20en
dc.subject.jelB22en
dc.subject.jelB31en
dc.subject.ddc330en
dc.subject.keywordJohn Maurice Clarken
dc.subject.keywordKeynesiansen
dc.subject.keywordInstitutionalistsen
dc.titleThe other J. M.: John Maurice Clark and the Keynesian revolution-
dc.typeWorking Paperen
dc.identifier.ppn572637772en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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