This short 1939 note by Paul Samuelson formalizes Alvin Hansen's combination of Keynes's income-expenditure multiplier with the accelerator principle of induced private investment.
PublishedClassicThe Review of Economics and StatisticsPublished May 2023
This paper shows that New Keynesian models with frictionless labor supply cannot simultaneously match three well-established empirical facts -- high marginal propensities to consume, low marginal …
PublishedClassicThe Review of Economics and StatisticsPublished Aug 1957
Robert Solow's 1957 paper proposes a simple method for separating shifts in the aggregate production function ("technical change," broadly defined) from movements along it caused by capital …
PublishedClassicThe Review of Economics and StatisticsPublished Aug 1956
This paper works out, with a simple mathematical model, whether the ordinary transactions demand for cash -- the money people hold just to bridge the gap between when they receive income and when they …