Abstract
The Keynesian theory was developed to understand the tendency of private enterprise economies to experience fluctuations in aggre-gate business activity. More specifically, Keynes’s (1935) analysis sought to explain and suggest policy remedies for the prolonged depressions that occurred in the United States during the 1930s and in the United Kingdom during the 1920s and 1930s.
This is a preview of subscription content, log in via an institution to check access.
Preview
Unable to display preview. Download preview PDF.
Copyright information
© 1994 Robert J. Barro and Vittorio Grilli
About this chapter
Cite this chapter
Barro, R., Grilli, V. (1994). The Keynesian Theory of Business Fluctuations. In: European Macroeconomics. Palgrave, London. https://doi.org/10.1007/978-1-349-27904-3_21
Download citation
DOI: https://doi.org/10.1007/978-1-349-27904-3_21
Publisher Name: Palgrave, London
Print ISBN: 978-0-333-57764-6
Online ISBN: 978-1-349-27904-3
eBook Packages: Palgrave Economics & Finance CollectionEconomics and Finance (R0)