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The Gospel of Keynesian Reality, Development and Application of Modigliani’s Model, 1944–2003,The Realm of Stabilization Policies

In: Franco Modigliani

Author

Listed:
  • Michael Szenberg

    (Pace University)

  • Lall Ramrattan

    (University of California)

Abstract

Prior to the Great Depression, John Maynard Keynes embraced the cyclical mechanisms that are the bedrock of full employment analysis in his monetary studies. Around 1923, Keynes recognized that “the problem of stabilization has several sides.”1 Inflation and deflation attracted paramount attention, relating to the problem of devaluation of exchange rates, and restoration of the Gold Standard.

Suggested Citation

  • Michael Szenberg & Lall Ramrattan, 2008. "The Gospel of Keynesian Reality, Development and Application of Modigliani’s Model, 1944–2003,The Realm of Stabilization Policies," Great Thinkers in Economics, in: Franco Modigliani, chapter 3, pages 45-78, Palgrave Macmillan.
    • Handle: RePEc:pal:gtechp:978-0-230-58243-9_3
    DOI: 10.1057/9780230582439_3
    as

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