Open AccessThe Theory and Models of Keynesian Disequilibrium Macroeconomics
Author(s) -
Tianhao Zhi
Publication year - 2016
Publication title -
international journal of economics and management sciences
Language(s) - English
Resource type - Journals
ISSN - 2162-6359
DOI - 10.4172/2162-6359.1000325
Subject(s) - disequilibrium , economics , keynesian economics , macroeconomic model , macroeconomics , neoclassical economics , medicine , ophthalmology
This paper critically reviews and examines the relationship between the origin of disequilibrium macroeconomic thinking by John Maynard Keynes, and the development of Keynesian disequilibrium macroeconomic models. Given that the two strands of literature are both plentiful, I will focus on discussing the essence of Keynesian disequilibrium thinking, and its implications of relevant models in the context of Keynes-Metzler-Goodwin and Weidlich-Haag-Lux approaches.
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