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Published in:
1974 | OriginalPaper | Chapter
The Theory of Income Determination
Author : D. C. Rowan
Published in: Output, Inflation and Growth
Publisher: Macmillan Education UK
Included in: Professional Book Archive
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As a result of our work in Chapter 11 we now have a theory of the determination of the equilibrium rate of interest. Our elementary model is thus complete. It is, therefore, convenient at this point to summarise our argument: that is to display in full the characteristics of the model at this stage. Once this is done we can proceed (i) to see where the model needs further extensions; and (ii) to see what predictions it yields.