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(1998) Game theory, experience, rationality, Dordrecht, Springer.
In the last fifty years there have been two revolutions in macroeconomics. The first, the Keynesian revolution, gave birth to macroeconomics as a sub-discipline distinct from microeconomics. By combining broad behavioral relationships, (the consumption function, the investment function, the liquidity preference function, etc.) into a single system, Keynesian macroeconomics demonstrated the existence of output levels at which involuntary unemployment was an equilibrium state.
Publication details
DOI: 10.1007/978-94-017-1654-3_13
Full citation:
Russell, T. (1998)., Macroeconomics and behavioral finance: a tale of two disciplines, in W. Leinfellner & E. Köhler (eds.), Game theory, experience, rationality, Dordrecht, Springer, pp. 153-159.
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