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What Was New in Wicksell and What
Could Keynes and Monetarists Coexist in
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A.W. Phillips according to equation annum approximately 1 percent available labor force chapter consumption consumption function defined demand for money desired capital stock distributive shares dividend dividend yield Econ economy employment fraction equilibrium level factor figure ga/a gross national product growing growth of price growth-rate solutions hence inflation inflationary potential Insert equation J.M. Keynes Keynes Keynesian labor productivity LM Curves monetarist monetary authorities money rate money rent bill money supply money wage rate national money income neoclassical growth model parameter Phillips function physical capital stock physical investment physical marginal productivity physical output physical quantity physical unit post-Keynesian present net worth price equation price-wage equilibrium production function productivity of capital proportionate rate rate of growth rate of inflation rate of interest real money supply real rate real wage rate right-hand side rise without bounds stationary rate theory tion variable wage rate w/P Wicksell Wicksellian zero