kevin d hoover sorted by

relevance

Other Keynesian economists sought to explain consumption, investment, the demand for money, and other key elements of the aggregate Keynesian model in a manner consistent with the assumption that individuals behave optimally.

Studies in Business Cycle Theory.

Shocks to aggregate demand are typically unanticipated changes in monetary or.

This turned out to be a radical step.

But today, it's the photography of Thomas Synnamon, Rick Day, Justin Monroe, Mark Henderson, Michael Stokes, Scott Hoover and a few others that get my creative juices flowing and make me strive to learn more and be better.

As soon as they realized the mistake, firms and workers would return to old levels of production and labor supply.

How should claims about its impact be evaluated? His recent work in economics has focused on the application of causal search methodologies for structural vector autoregression, the history of microfoundational programs in macroeconomics, and Roy Harrod's early work on dynamic macroeconomics.

The interesting policy question was the trade-off: How much extra inflation was a one-point fall in the unemployment rate worth? And if the rule had been one that maintained a steady 2 percent rate of inflation, then a one-percentage-point increase would fall short of what had been anticipated, and unemployment would rise.

Similarly, when higher production requires new capital, it takes time to build it up.

It is always costly to adjust production levels quickly.

Similarly, workers would be willing to work more when productivity and wage rates are higher and to take more leisure when their rewards are lower.