Introduction The aim of this chapter is to study how output is determined in Keynesian framework. The analysis in this chapter is often named multiplier analysis
Chapter 7: The Analysis of Price Determination Gang Gong Copyright Notes: This electronic file is only used as a lecture notes for the student in this class. It is not allowed to be used for presentation anywhere else without the permission from the author
I want to thank Edward Nell, David Colander, John Eatwell and Thomas Palley for their comments and suggestions on the early draft of paper Dept of Economics, Graduate Faculty, New School for Social Research, 65 Fifth Ave
The Multiplier Process as Market Exchange Process A Contribution to the micro Foundation of Keynesian macroeconomics Abstract Traditional equilibrium analysis has been incorrectly founded once an\ordering issue\is