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Hydraulic macroeconomics

Index Hydraulic macroeconomics

Hydraulic macroeconomics is an informal characterization of certain types of macroeconomic study assuming aggregate social wealth (demand or supply) as somewhat smooth, constant and homogeneous. [1]

13 relations: Alan Coddington, Economica, Hydraulics, Incompressible flow, Irving Fisher, Journal of Economic Literature, Keynesian economics, Macroeconomics, MONIAC, Pascal's law, Phillips curve, Smoothness, William Phillips (economist).

Alan Coddington

Dr.

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Economica

Economica is a peer-reviewed academic journal of generalist economics published on behalf of the London School of Economics by Wiley-Blackwell.

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Hydraulics

Hydraulics (from Greek: Υδραυλική) is a technology and applied science using engineering, chemistry, and other sciences involving the mechanical properties and use of liquids.

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Incompressible flow

In fluid mechanics or more generally continuum mechanics, incompressible flow (isochoric flow) refers to a flow in which the material density is constant within a fluid parcel—an infinitesimal volume that moves with the flow velocity.

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Irving Fisher

Irving Fisher (February 27, 1867 – April 29, 1947) was an American economist, statistician, inventor, and Progressive social campaigner.

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Journal of Economic Literature

The Journal of Economic Literature is a peer-reviewed academic journal, published by the American Economic Association, that surveys the academic literature in economics.

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Keynesian economics

Keynesian economics (sometimes called Keynesianism) are the various macroeconomic theories about how in the short run – and especially during recessions – economic output is strongly influenced by aggregate demand (total demand in the economy).

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Macroeconomics

Macroeconomics (from the Greek prefix makro- meaning "large" and economics) is a branch of economics dealing with the performance, structure, behavior, and decision-making of an economy as a whole.

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MONIAC

The MONIAC (Monetary National Income Analogue Computer) also known as the Phillips Hydraulic Computer and the Financephalograph, was created in 1949 by the New Zealand economist Bill Phillips (William Phillips) to model the national economic processes of the United Kingdom, while Phillips was a student at the London School of Economics (LSE).

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Pascal's law

Pascal's law (also Pascal's principle or the principle of transmission of fluid-pressure) is a principle in fluid mechanics that states that a pressure change occurring anywhere in a confined incompressible fluid is transmitted throughout the fluid such that the same change occurs everywhere.

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Phillips curve

The Phillips curve is a single-equation empirical model, named after William Phillips, describing a historical inverse relationship between rates of unemployment and corresponding rates of rises in wages that result within an economy.

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Smoothness

In mathematical analysis, the smoothness of a function is a property measured by the number of derivatives it has that are continuous.

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William Phillips (economist)

Alban William Housego "A.

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Hydraulic Keynesianism, Hydraulic Macroeconomics.

References

[1] https://en.wikipedia.org/wiki/Hydraulic_macroeconomics

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