Income and Employment Multipliers, and the Price Level

Louise Davidson

Chapter 30 in Money and Employment, 1990, pp 450-466 from Palgrave Macmillan

Abstract: Abstract Although Keynes suggested that ‘the general price-level depends partly on the rate of remuneration of the factors of production which enter into marginal cost and partly on the scale of output as a whole, i.e. (taking equipment and technique as given) on the volume of employment’ (Keynes, 1936, p. 294), the typical Keynesian multiplier analysis has ignored the problem of changing price and wage levels as output expands or contracts.

Keywords: Price Level; Aggregate Demand; Real Income; Full Employment; Wage Earner (search for similar items in EconPapers)
Date: 1990
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DOI: 10.1007/978-1-349-11513-6_31

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