Axel Leijonhufvud

from Wikipedia, the free encyclopedia

Axel Leijonhufvud (* 1933 in Stockholm ) is a Swedish economist who deals in particular with Keynesianism .

Academic career

He received his first degree from Lund University . In 1960 he went to the United States and received an MA from the University of Pittsburgh and his Ph.D. at Northwestern University . In 1971 he was appointed professor at the University of California, Los Angeles , where he founded the Center for Computable Economics in 1991, which he directed until 1997. In 1995 he was appointed professor for monetary theory and policy at the University of Trento , where he worked until 2008.

Act

In 1968 he published the book On Keynesian Economics and the Economics of Keynes , the German title of which is Über Keynes und den Keynesianismus . The remarks were heavily influenced by his mentor and supervisor of the doctoral thesis, Robert Wayne Clower .

He argued that John R. Hicks 'interpretation of Keynes' General Theory as an IS-LM model was inadequate as an explanation of involuntary unemployment . He indicated that Keynes emphasized the importance of imbalance phenomena that are not addressed in the IS-LM model. There are also forces in a market that have a destabilizing effect. Leijonhufvud therefore considers the neoclassical synthesis to be "completely incorrect in its interpretation of Keynes." Instead of the assumption that the economy is in a general equilibrium , the economy should be modeled as a dynamic system in a "cybernetic" approach .

Peter W. Howitt sums up that the book, which he described as a masterpiece (“tour de force”), was a great success and the IS-LM model lost its influence in the academic world, but was still used for policy advice before of Keynesianism by, among others, Robert Lucas developed new classical macroeconomics was replaced.

Later he published, among other things, on the work of Knut Wicksell , or on problems of overall economic demand .

Works

  • On Keynesian economics and the economics of Keynes: a study in monetary theory . Oxford University Press, New York 1968. German translation: About Keynes and Keynesianism: a study on monetary theory . Kiepenheuer & Witsch, Cologne 1973.
  • Information and Coordination: Essays in Macroeconomic Theory . Oxford University Press, Oxford 1981.
  • Macroeconomic Instability and Coordination: Selected Essays . Edward Elgar, Cheltenham 2000.

literature

Individual evidence

  1. ↑ Axel Leijonhufvud , private homepage, accessed on January 1, 2015.
  2. ↑ Axel Leijonhufvud , ucla.edu, accessed on January 1, 2015
  3. ↑ a b Axel Leijonhufvud , unitn.it, accessed on January 1, 2015.
  4. ^ Axel Leijonhufvud: On Keynesian economics and the economics of Keynes: a study in monetary theory . Oxford University Press, New York 1968.
  5. ↑ Axel Leijonhufvud: About Keynes and Keynesianism: a study on monetary theory . Kiepenheuer & Witsch, Cologne 1973.
  6. ^ Brian Snowdon: Outside the Mainstream: an Interview with Axel Leijonhufvud , Northumbria University, May 17, 2002, p. 3. Accessed January 1, 2015.
  7. ↑ JR Hicks: Mr. Keynes and the 'Classics', A Suggested Interpretation (PDF; 198 kB), Econometrica, Vol. 5, 1937, pp. 147–159
  8. ↑ a b c Peter W. Howitt : A Dictionary Article on Axel Leijonhufvud's On Keynesian Economics and the Economics of Keynes: A Study in Monetary Theory ( Memento of September 7, 2006 in the Internet Archive ). Brown University . January 29, 2002. Retrieved January 1, 2015.
  9. ^ "The neoclassical synthesis is utterly incorrect in its interpretation of Keynes". Quoted from: Brian Snowdon: Outside the Mainstream: an Interview with Axel Leijonhufvud , Northumbria University, May 17, 2002, p. 7. Retrieved January 1, 2015.
  10. ^ Axel Leijonhufvud: The Wicksell Connection: Variation on a Theme . UCLA . November 1979.
  11. ↑ Axel Leijonhufvud: Effective Demand Failures The Swedish Journal of Economics, Vol. 75, No. 1, (March 1973), pp. 27-48

Web links

personal data
SURNAME Leijonhufvud, Axel
BRIEF DESCRIPTION Swedish economist
DATE OF BIRTH 1933
PLACE OF BIRTH Stockholm