Money, employment and interest : towards a reconstruction of Keynesian economics / by Shozaburo Fujino.

Chapter I. The logical structure of the Monetary economy, asymmetry of demand and supply -- 1.1. Introduction, 1 -- 1.2. Rationales for exchange and the market to appear, 2 -- 1.3. Rationales for the Appearance of the monetary economy, 5 -- 1.4. The logical characteristics of the monetary economy, 9 -- 1.5. Functions of money and characteristics of demand for money, 16 -- 1.6 Non-monetariness of the neo-classical economy, 18 -- 1.7. The monetary economy and walras' law, 21 -- Chapter 2. The postulates of the classical economics and the permanent supply of labor, asymmetry of the firm and the household -- 2.1. Introduction, 29 -- 2.2. The postulates of the classical economics and the principle of effective demand: asymmetry between the firm's and the household's abilities of adjustments, 30 -- 2.3. Permanent supply of labor and supplementary supply of labor, 36 -- 2.4. The permanent supply curve of labor, 40 -- Chapter 3. The principle of effective demand and effective supply and Involuntary unemployment -- 3.1. Introduction, 44 -- 3.2. The firm's effective supply function, 44 -- 3.3. The effective supply-demand and involuntary unemployment, 47 -- 3.4. Wage adjustment, 55 -- 3.5. Summary, 56 -- Chapter 4. Demand uncertainty and output-inventory decisions -- 4.1. Introduction, 58 -- 4.2. One period model of the risk neutral firm, 62 -- 4.3. Dynamic programming model of the risk neutral firm, 67 -- 4.4. One period model of the risk averse firm, 71 -- 4.5. Well-behavedness of expected profits, 75 -- 4.6 Dynamic Programming Model of the Risk Averse Firm, 88 -- 4.7. Conclusions, 91 -- Chapter 5. Demand uncertainty and Output-backlog decisions -- 5.1. Introduction, 94 -- 5.2. Inventory theory versus backlog theory, 95 -- 5.3. Output-backlog decision of the risk neutral firm, 98 -- 5.4. Economic implications of the output-backlog model, 102 -- 5.5 Output-backlog decision of the risk averse firm, 105 -- 5.6 Well-behavedness of expected profits, 111 -- 5.7 Conclusions, 118 -- Chapter 6. Demand uncertainty and the theory of investment -- 6.1. Introduction, 120 -- 6.2. Short-term and long-term expectations of the firm, 121 -- 6.3. Determination of investment, 123 -- 6.4. Acceleration principle and profit principle a synthesis, 130 -- 6.5. Uncertainty and the marginal efficiency of investment, 133 -- 6.6 Conclusions, 137 -- Chapter 7. Aggregate demand and aggregate supply functions reconsidered -- 7.1. Introduction, 140 -- 7.2. AD function and AS function, 142 -- 7.3. The case of Walrasian type of market adjustment, 145 -- 7.4 The case of Marshallian type of market adjustment, 149 -- 7.5. Characteristics of Walrasian model and Marshallian model, 151 -- 7.6. The Demand Restricted Case in the Monetary Economy, 153 -- 7.7. The Supply Shock and Prices-Output Behavior, 155 -- Chapter 8. Liquidity preference versus loanable-funds theories of interest -- 8.1. Three theories of interest, 159 -- 8.2. Liquidity-preference versus loanable-funds theories, 161 -- 8.3. Locking in spillover effect, 165 -- 8.4. Methods for Approaching the Behavior of Banks, 166 -- 8.5. Summary of our survey of banks in 1981-1982, 169 -- 8.6. Behavior of large banks, 174 -- 8.7. Behavior of Medium-Sized Banks, 178 -- 8.8 Behavior of small banks, 183 -- 8.9. Loans supplied by the Bank of Japan and Call Market, 184 -- 8.10 Behavior of the Loan-Deposit Ratio, 186 -- 8.11. Dynamic adjustment of the rate of interest (1), 189 -- 8.12. Dynamic adjustment of the rate of interest (2), 197 -- 8.13 Conclusions ,202 -- Appendix microeconomic foundations of keynesian macroeconomics, 205 -- Index, 211.