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Published in:
1975 | OriginalPaper | Chapter
Macro-Disequilibrium Economics
Author : J. Van Doorn
Published in: Disequilibrium Economics
Publisher: Macmillan Education UK
Included in: Professional Book Archive
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Macro-disequilibrium economics deals traditionally with systems such as the dynamic multiplier, the multiplier-accelerator mechanism and inventory models. More recently a fascinating development in economic analysis has taken place, centred around markets operating under conditions of insufficient information. The implications for macro-economics are most important. A discussion of the ‘new’ macro-disequilibrium analysis based on the ‘Keynes versus Classics’ controversy is therefore included.