RT Report
T1 Capital accumulation, technical progress and wage flexibility : Keynes'approach to aggregate supply and demand analysis revisited
A1 Palacio Vera, Alfonso
AB The aggregate supply and demand model (AS-AD) posited by Keynes in the General Theory and elaborated by Weintraub and Davidson is analysed by inserting a CES production function. We perform a comparative statics analysis where the effects on the equilibrium level of employment and the price level of changes in a wide range of variables and parameters are worked out. The effect of changes in the money wage rate on the level of employment and the price level are found to be ambiguous. Finally, we argue that this approach provides a more consistent approach than conventional AS-AD analysis does.
PB Facultad de Ciencias Económicas y Empresariales, Universidad Complutense de Madrid
SN 2255-5471
YR 2003
FD 2003
LK https://hdl.handle.net/20.500.14352/64488
UL https://hdl.handle.net/20.500.14352/64488
LA eng
NO JEL Classification: E12, E24, E31
DS Docta Complutense
RD 8 jun 2025