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Economic Events and Keynesian Ideas: The 1930s and the 1970s

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NBER1986-07-01 更新2025-01-04 收录
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Keynes' General Theory was a brilliant attempt to explain the paradox of low interest rates, ineffectual easy monetary policy, and low investment during the Great Depression. We argue that Keynes' failure to distinguish between low nominal and high real interest rates led him to misinterpret a tight

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1986-07-01
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