Were Klein's models based on Keynesian economics?
Yes
No
Partly
It's unclear
Answer
Yes, Klein's models were based on Keynesian economics. This is because they focused on the aggregate demand side of the economy, which was a key concept in Keynesian economics. Keynesian economics argued that the government could play a role in stimulating the economy by increasing spending, which would lead to higher aggregate demand and more economic growth.
Mastering Macro: The Legacy of Lawrence Klein
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