Abstract
Equal in stature to the Liquidity Preference theory of interest rate determination, which dominates the monetary side of Keynes’s General Theory, is the concept of the multiplier and its role in shifting the economy between different levels of real output and employment.
Having been present at the birth of the multiplier, I should also like to be present at its funeral. (Clark, 1970, p. 54)
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© 1989 G.R. Steele
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Steele, G.R. (1989). Forced Saving versus the Multiplier. In: Monetarism and the Demise of Keynesian Economics. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-09994-8_6
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DOI: https://doi.org/10.1007/978-1-349-09994-8_6
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-09996-2
Online ISBN: 978-1-349-09994-8
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