布兰查德宏观经济学 第四版 第27章.pptVIP

Keynes and theGreat Depression The history of modern macroeconomics starts in 1936, with the publication of Keynes’s General Theory of Employment, Interest, and Money. Keynes and theGreat Depression In the process of deriving effective demand, Keynes introduced many of the building blocks of modern macroeconomics: The relation of consumption to income, and the multiplier. Liquidity preference (the term given to the demand for money) The importance of expectations in affecting consumption and investment; and the idea that animal spirits are a major factor behind shifts in demand and output.