MACRO ECONOMICS
Major Theories And Related economists As Per The Chronological Order-PART-II [MACRO ECONOMICS]
| MACRO ECONOMICS | |||
| Consumption Function | |||
| 47 | Absolute Income Hypothesis | Keynes | 1936 |
| 48 | Relative Income Hypothesis | Duesenberry | 1949 |
| 49 | Life Cycle Hypothesis (Wealth Theory of Consumption) | Ando, Modigliani[Modigliani formulated LCH with Richard Brumberg following a conference on saving at University of Minnesota in 1954 but Richard died due to a brain tumor shortly after their famous paper thus Modigliani was forced to prepare the hypothesis and test it in 1963. | 1954/1963 |
| 50 | Permanent Income Hypothesis | Friedman | 1957 |
| Effect | |||
| 51 | Keynes Effect | Keynes | 1936 |
| 52 | Pigou Effect | A. C. Pigou | 1943 |
| 53 | Real Balance Effect | Patinkin | 1956 |
| Multiplier and Acceleration | |||
| 54 | Accelerator | J.M. Clark | 1917 |
| 55 | Employment Multiplier | R.F. Khan | 1931 |
| 56 | Investment Multiplier | J.M. Keynes | 1936 |
| 57 | Super Multiplier | Hicks | 1951 |
| 58 | Foreign Trade Multiplier | Mr. Leighton | |
| Demand for Money | |||
| 59 | Classical Theory | Classical | 1911 |
| 60 | Keynesian Theory | Keynes | 1936 |
| 61 | Inventory Approach | Baumol | 1950 |
| 62 | Restatement of Quantity Theory | Friedman | 1956 |
| 63 | Port-folio Approach | Tobin | 1969 |
| 64 | Cash Transaction Approach | Fisher | 1911 |
| 65 | Cash Balance Approach
|
Cambridge economists
· A.C.Pigou (1917) · Alfred Marshall (1923) · D.H. Robertson (1922) · John Maynard Keynes (1923) · R.G. Hawtrey and Frederick Lavington (1921, 1922)
|
|
| 66 | Reformulated Quantity Theory of Money | Keynes | 1930s |
| 67 | Real Balance Effect | Don Patinkin | 1956 |
| Business Cycle | |||
| 68 | Sun Spot or Climatic Theory | William Stanley Jevons
Moore (extended) |
1879 |
| 69 | Psychological Theory | Pigou & Beveridge | 1909 |
| 70 | Hawtrey’s Theory or Monetary theory | Hawtrey | 1926 |
| 71 | Innovation Theory of Trade Cycle | Schumpeter | 1927 |
| 72 | Von Hayek’s Theory or Over- Investment Theory | Von Hayek | 1930s |
| 73 | Cobweb Theory of Business Cycle | H. Schultz, J. Tinbergen, U. Ricci | 1930 |
| 74 | Samuelson’s Model | Samuelson | |
| 75 | Real Business Cycle | Kydland, Prescott, Barro & King, Long & Plosser | 1980s |
| 76 | Goodwin’s Trade Cycle | Goodwin | 1951 |
| 77 | Keynes’s Theory | Keynes | 1930s |
| 78 | Kaldor’s Theory of Trade Cycle | Kaldor | 1940 |
| 79 | Hick’s Theory of Trade Cycle | Hicks | 1950 |
| Other | |||
| 80 | Insider & Outsider Theory of Labor Market | A. Lindback & D. Snower | |
| 81 | IS-LM model | J.R. Hicks & Alvin H. Hansen | 1937 |
| 82 | Philips Curve | A. W. H. Phillips | 1958 |
| 83 | Monetary Approach to BOP | Hahn | 1959 |
| 84 | Mundell Fleming Model | Robert Mundell and Marcus Fleming | 1960 |
| 85 | Optimum Currency Area | Robert Mundell | 1960 |
| 86 | Expectation Augmented Philips Curve | · Milton Friedman
· Edmund Phelps |
1966,68
1967,68,70 |
| 87 | Implicit Contract Theory | Baily & Azariades | 1979 |
| 88 | Asymmetric Information Model | Grossman & Hart | 1981 |
This entry was posted in MICRO ECONOMICS. Bookmark the permalink.
