A Neo-Keynesian Theory of Inflation and Economic Growth (Lecture Notes in Economics and Mathematical Systems, Band 104)
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Beschreibung
'lhe PUIllooes of this study are to investigate processes of cyclical fluctuations, inflation and economic g:t'Oo'lth, and conComitantly, to relate the short-run analysis to the long-run analysis of the econaT\Y as far as feasible under the confines of this investigation. First of all, we shall present a theory of investnent in Chapter 1. We shall make evident defects included in the neo-classical theory of investnent, founded in particular by I. Fisher and a variant of which is the Keynesian version, by taking into account recent studies of investnent and by formulating a new theory of investnent. Its incorporatim into our dynamic analyses is one of the reasons why the theory developed in this study is referred to as Neo Keynesian. Brlefly, the theory is characterlzed by firm investnent being a function of the firm's expected stock of money, the expected marginal productivi ty of capital, and the expected rate of inflation (or the firm's subjective rate of real interest) .
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