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Keynesian theories of investment: neo-, post-, and new

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  • Steven Fazzari

Abstract

The general objective of this piece is to analyze the formulations developed bythree interpretative strands of Keynes’ investment theory, specifically with regard to theinterrelationships between real and monetary-financial variables. After highlighting the innovativecharacter of Keynes’ formulation on the issue, the author goes through the approachesof neo-Keynesians (neoclassical synthesis), post-Keynesians, and New Keynesians,in an attempt to focus on the central question of the article, that is, to assess the existenceor not of possible relationships between the new Keynesians and the two other approacheswith regard to the links between finance and investment. In particular, the author aims toassess whether or not the formulations of the new Keynesians represent a convergence betweenneo and post visions. JEL Classification: E12; E22.

Suggested Citation

  • Steven Fazzari, 1989. "Keynesian theories of investment: neo-, post-, and new," Brazilian Journal of Political Economy, Center of Political Economy, vol. 9(4), pages 551-561.
  • Handle: RePEc:ekm:repojs:v:9:y:1989:i:4:p:551-561:id:1630
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    More about this item

    Keywords

    Investment; Keynesianism;

    JEL classification:

    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory
    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity

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