L'allocation des ressources et leur niveau d'emploi dans le chapitre 21 de la Théorie Générale

Alexander Tobon

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Abstract: The aim of this paper is to show the role of prices in Keynes's monetary theory. More precisely, we show that in chapter 21 of the General Theory there exists a mechanism of relative prices. The employment level is determined, simultaneously, by effective demand and by relative prices. This result is derived from Keynesian price theory. In this theory, a rise in the quantity of money produces a non proportional price variation through effective demand. We show that Keynes's theory is, at the same time, a theory of relative prices and a theory of the level of prices.

Keywords: prices; money; employment; Keynes; prix; monnaie; allocation; emploi (search for similar items in EconPapers)
Date: 2006-06-15
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Published in Revue d'économie politique, 2006, 117 (3), pp.419-428

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Journal Article: L'allocation des ressources et leur niveau d'emploi dans le chapitre 21 de la Théorie Générale (2006)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:halshs-00108170

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