A keynesian macro‐econometric model of the UK: 1955–1984
英国凯恩斯主义宏观计量模型：1955—1984 年
Abstract In this paper we present a small Keynesian macro‐economic model in which wage‐price determination is linked to the working of goods and money markets. By explicitly treating the Keynes effect we derive a general expression for the employment‐money supply elasticity, and draw the IS‐LM loci in the employment‐interest rate space Our empirical specification allows for short‐run disequilibrium dynamic adjustments around the static long‐run relations predicted by the…