Class2 - The Short Run Keynesian Economics Xavier Ragot Macroeconomics September 2010 Class 2 Keynesian Short Run How does the economy react to

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The Short Run Keynesian Economics Xavier Ragot Macroeconomics September 2010 Class 2 Keynesian Short Run
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How does the economy react to macroeconomic shocks ? What can the State do to counteract the e/ect of these shocks ? - Shocks : Fiscal, Monetary, Technology, Financial Bubble. Class 2 Keynesian Short Run
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How does the economy react to macroeconomic shocks ? What can the State do to counteract the e/ect of these shocks ? - Shocks : Fiscal, Monetary, Technology, Financial Bubble. Main contribution is Keynes 1936, General Theory : an understanding based on the 1929 crisis. Class 2 Keynesian Short Run
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How does the economy react to macroeconomic shocks ? What can the State do to counteract the e/ect of these shocks ? - Shocks : Fiscal, Monetary, Technology, Financial Bubble. Main contribution is Keynes 1936, General Theory : an understanding based on the 1929 crisis. Main assumption : in the short run prices are rigid or sticky : Markets do not clear with prices, but with quantities. Class 2 Keynesian Short Run
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How does the economy react to macroeconomic shocks ? What can the State do to counteract the e/ect of these shocks ? - Shocks : Fiscal, Monetary, Technology, Financial Bubble. Main contribution is Keynes 1936, General Theory : an understanding based on the 1929 crisis. Main assumption : in the short run prices are rigid or sticky : Markets do not clear with prices, but with quantities. ! A new macroeconomics, Keynesian economics : a crucial role for aggregate demand. Class 2 Keynesian Short Run
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What can the State do to counteract the e/ect of these shocks ? - Shocks : Fiscal, Monetary, Technology, Financial Bubble. Main contribution is Keynes 1936, General Theory : an understanding based on the 1929 crisis. Main assumption : in the short run prices are rigid or sticky : Markets do not clear with prices, but with quantities. ! A new macroeconomics, Keynesian economics : a crucial role for aggregate demand. Model by Hicks IS±LM (Keynesian ?) : a closed economy.
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This note was uploaded on 01/12/2011 for the course ECO 010023 taught by Professor Mrraggillpol during the Fall '09 term at Paris Tech.

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Class2 - The Short Run Keynesian Economics Xavier Ragot Macroeconomics September 2010 Class 2 Keynesian Short Run How does the economy react to

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