Keynes and Equilibrium: A Note

M. Tonveronachi

Chapter 3 in The Notion of Equilibrium in the Keynesian Theory, 1992, pp 18-31 from Palgrave Macmillan

Abstract: Abstract This chapter addresses two related aspects of equilibrium in Keynes’s theory. The first aspect concerns the methodological approach which gives coherence to Keynes’s equilibrium; the second one refers to the burdens posed by Keynesian uncertainty on the specification of equilibrium. A clarification of these aspects is a necessary preliminary step for a positive reconsideration of Keynes’s theory of underemployment equilibrium.

Keywords: Labour Market; Real Wage; Specific Theory; Market Equilibrium; Market Rate (search for similar items in EconPapers)
Date: 1992
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-22086-1_3

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DOI: 10.1007/978-1-349-22086-1_3

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