Ian McDonald

Joan Robinson’s Phillips curve

IM McDonald

Journal article  |  2023  |  Review of Keynesian Economics

In an overlooked essay extending John Maynard Keynes’ The General Theory, Joan Robinson set out a theory of the Phillips curve bas..

A Keynesian model of aggregate demand in the long-run

Ian M McDonald

Journal article  |  2021  |  METROECONOMICA

This paper develops the Keynesian theory of aggregate demand in the long-run in which persistently low levels of aggregate demand ..

Can loss aversion shed light on the deflation puzzle?

JN Lye, Ian McDonald

Journal article  |  2021  |  Review of Keynesian Economics

This paper argues that the application of loss aversion to wage determination can explain the deflation puzzle: the failure of per..

The Economics of Ageing—What Do We Face?

Ian McDonald

Journal article  |  2020  |  The Australian Economic Review

We, as taxpayers, face challenging problems in assisting the well‐being of old people mainly because preparing for and living thro..

Obituary for Joseph Ezra Isaac, AO FASSA: 1922–2019

Ian McDonald

Journal article  |  2020  |  The Economic Record

Celebrated academic and public servant emeritus professor the Hon. Joseph Isaac died on 17 September 2019 at the age of 97. He was..

Macroeconomic Policy to Aid Recovery after Social Distancing for COVID‐19

Ian McDonald

Journal article  |  2020  |  The Australian Economic Review

Using the Keynesian model set out in McDonald (2020), in which downward wage rigidity is supported by worker loss aversion with re..

The Economics of Ageing-What do you Face?

Ian M McDonald

Journal article  |  2019  |  The Australian Economic Review

The economics of ageing is the study of economic decision‐making by individuals and government aimed at fostering well‐being in ol..

John Maynard Keynes, Joan Robinson and the prospect theory approach to money wage determination

Ian M McDonald

Journal article  |  2019  |  Metroeconomica: international review of economics

In the 1930s, John Maynard Keynes and Joan Robinson observed a flex–fix sequence of money wage adjustment, which is changes in agg..

Policy Forum: Economics and Populism Introduction

Ian M McDonald

Journal article  |  2018  |  AUSTRALIAN ECONOMIC REVIEW

Editors' Report 2017

R Williams, I McDonald, C Ryan

Journal article  |  2018  |  Australian Economic Review