Fisher, Keynes, and the Corridor of Stability

Robert Dimand

American Journal of Economics and Sociology, 2005, vol. 64, issue 1, 185-199

Abstract: Abstract. This chapter draws on the debt‐deflation process of Fisher (1933) as well as on Keynes (1936, chapter 19) and Tobin (1975, 1980) to explore the concept of a corridor of stability, where an economy will be self‐adjusting only for demand shocks small enough to leave it within that corridor.

Date: 2005
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Persistent link: https://EconPapers.repec.org/RePEc:bla:ajecsc:v:64:y:2005:i:1:p:185-199

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