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Record W3002621553 · doi:10.4337/roke.2020.01.04

The much-exaggerated death of Keynesian economics

2020· article· en· W3002621553 on OpenAlexaff
Robert W. Dimand

Bibliographic record

VenueReview of Keynesian Economics · 2020
Typearticle
Languageen
FieldEconomics, Econometrics and Finance
TopicEconomic Theory and Policy
Canadian institutionsBrock University
Fundersnot available
KeywordsEconomicsPost-Keynesian economicsKeynesian economicsNeo-Keynesian economicsEffective demandRecessionMainstream economicsNeoclassical economicsWageNew Keynesian economicsSchools of economic thoughtHeterodox economicsMacroeconomicsApplied economicsMonetary policyLabour economics

Abstract

fetched live from OpenAlex

The supposed death of Keynesian economics has long been debated. This paper revisits the four central Keynesian propositions identified by Tobin's 1977 paper, ‘How dead is Keynes?’, to argue, in the light of the global financial crisis and the Great Recession, that Keynesian economics remains alive and relevant as useful economics for understanding the economy in a world of fundamental uncertainty, with particular reference to chapter 19 of Keynes's General Theory concerning economic instability and wage and price flexibility.

Fetched live from OpenAlex and de-inverted. Abstracts are not stored in this database: the inverted indexes are 8.6 GB of the frame’s 9.3 GB of text, and the host has 13 GB free.

How this classification was reachedexpand

Full frame machine prediction

Teacher imitation

Not calibrated prevalence, not ground truth. Human validation pending. The Gemma side is a direct model label for every work in the frame, read from the title-only record. The Codex side is a classifier learned from the 10,348 direct Codex labels and calibrated to design-weighted sample rates; fields without enough sample support carry no Codex call. Candidate is the union of the two sides; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels.

metaresearch head score (Codex)0.008
metaresearch head score (Gemma)0.021
Version: metacan-v3-hybrid-931329e0061cValidation status: machine_predicted_unvalidated
Candidate categoriesnone
Consensus categoriesnone
DomainCandidate signal: none · Consensus signal: none
Study designCandidate signal: Theoretical or conceptual · Consensus signal: Theoretical or conceptual
GenreCandidate signal: Commentary · Consensus signal: Commentary
Teacher disagreement score0.008
Threshold uncertainty score0.041

Distilled classifier scores by category (both heads)

CategoryCodexGemma
Metaresearch0.0080.021
Meta-epidemiology (narrow)0.0010.000
Meta-epidemiology (broad)0.0010.000
Bibliometrics0.0010.001
Science and technology studies0.0020.019
Scholarly communication0.0040.013
Open science0.0010.002
Research integrity0.0040.009
Insufficient payload (model declined to judge)0.0040.002

Machine scores (provisional)

The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.

Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.

Opus teacher head0.040
GPT teacher head0.233
Teacher spread0.193 · how far apart the two teachers sit on this one work
Validation statusscore_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from it

Classification

machine, unvalidated

Machine predicted; a candidate call from one source (direct Gemma or distilled Codex), not a consensus.

The models applied no category: nothing in the taxonomy fit this work.
Study designTheoretical or conceptual
Domainnot available
GenreCommentary

How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".

Quick stats

Citations4
Published2020
Admission routes1
Has abstractyes

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