Titlebook: Asset Markets, Portfolio Choice and Macroeconomic Activity; A Keynesian Perspect Toichiro Asada,Peter Flaschel,Christian Proa?o Book 2011 P

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Form der wissenschaftlichen Ausarbeitunghe dynamics is derived in order to allow for steady state considerations (in the following section) on the basis of nine autonomous laws of motion that exhibit a unique point of rest or steady state. The next section focuses on the short-run comparative statics of the financial markets module of the

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Form der wissenschaftlichen Ausarbeitungna, has raised serious concerns about the stability of the world economy. Nevertheless, a correction of these imbalances by means of a significant readjustment concerning the US dollar does not seem very likely in the near future, due to a reluctance of some governments to deal with this issue. In l

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Form der wissenschaftlichen Ausarbeitungles when balance of payments effects are to be discussed. In view of this, we now also employ disequilibrium adjustment rules for the financial markets in the case of a closed economy, though these rules remain based on a Tobinian portfolio (desired stocks) approach to financial markets. Moreover —

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Book 2011This book extends the KMG framework (Keynes, Meltzer, Goodwin) and?focuses on financial issues.?It integrates Tobin‘s macroeconomic portfolio approach and emphasizes the issue of stock-flow consistency.

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978-1-349-33133-8Palgrave Macmillan, a division of Macmillan Publishers Limited 2011

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Form der wissenschaftlichen Ausarbeitungk, the horse will move and its movement will be different from that of the stick. In other words, erratic . ‘shocks’ are the cause of economic cycles (providing the necessary energy to keep the horse moving) and the fundamental law which determines the form of these cycles is given by the . of the economic system.