Jerome L. Stein, 1928-

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One of the creators of the "Keynes- Wicksell" model of monetary growth which incorporated an independent investment function and took careful consideration of disequilibrium and macro-growth linkage harked back to the works of Wicksell, Keynes and Hayek. Jerome Stein's initial presentation of the model in the late 1960s - in particular, his Money and Capacity Growth (1971) presentation - was coupled with Hugh Rose's and Keizo Nagatani's developments. However, it had a short-lived existence as the attention of macroeconomists turned to the Rational Expectations debate. Since then, Stein has worked on problems of stabilization policy and finance. The Keynes-Wicksell model has recently had a resurgence in Post Keynesian and Post Walrasian theory. J.L. Stein currently teaches at Brown.

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