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Quotes from Price Flexibility and Output Stability: An Old Keynesian View — James Tobin

1918–2002 United States

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1 quote

I shall argue that Keynesian macroeconomics neither asserts nor requires nominal wage and/or price rigidity. It does assert and require that markets not be instantaneously and continuously cleared by prices.

Price Flexibility and Output Stability: An Old Keynesian View (1993)

Attribution

Quotes and notes from Wikiquote: James Tobin (page history), available under CC BY-SA 4.0.