Epstein Secrets

duced from retained earnings within companies. For many economists, somewhat oddly, this will be seen as a serious flaw. Since at least the time of Keynes, investment and saving have been at the heart of macroeconomic modelling, and this is true of neo-classical and other heterodox modelling, not just

on of the national income shares in the US, noting that the overall share is constant even though sector shares show long-term changes [Young 2010]. Gollin gives a very thorough survey of income shares in more than forty countries [Gollin 2002]. Figure 1.3.8 here [St Louis Fed 2004] We will come back

loyment is higher in model 46 than model 4A. Also the ratio of returns to labour to returns to capital is significantly higher in model 4A. This is Keynes writ large. Unlike static equilibria, dynamic equilibria can have multiple points of stability. The point of equilibrium that is reached depends on

ee-quarters and can be very stable, as discussed in section 1.3 above. Young gives a good discussion of the national income shares in the US, while Gollin gives a very thorough survey of income shares in more than forty countries [Young 2010, Gollin 2002]. In emerging economies 13 can be much lower, a

the players know that it is the Old Maid which is circulating, or that when the music stops some of the players will find themselves unseated." 3M Keynes [Keynes 1936] The following is a brief review of current research and emerging ideas within the field of liquidity. This section is something of a

FT 2011b FT/M 2010 Gabaix 2009 Gaffeo et al 2003 Gallegati et al 2006 gapminder Georgescu-Roegen 1971 Georgia Tech 2010 Glazer & Wark 2001 Gollin 2002 Gould & Tobochnik 2010 Goyenko et al 2009 Griffiths & Tenenbaum 2006 Guardian 2010 Harrison 2005 Harvie 2000 Hayek 1931 Hess & Holzhau