The Keynesian Theory of Business Fluctuations

  • Robert Barro
  • Vittorio Grilli
Chapter

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.

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Copyright information

© Robert J. Barro and Vittorio Grilli 1994

Authors and Affiliations

  • Robert Barro
  • Vittorio Grilli

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