https://orcid.org/0000-0002-0978-3457
Figures & data
Figure 1. Percent price changes from preceding month for Personal Consumption Expenditures (PCE), United States, January 2000–May 2020.
Figure 2. Personal savings as a percentage of personal disposable income. Monthly, United States, January 2000–May 2020.
Figure 3. The Keynesian Cross with a concave consumption function.
Figure 4. Summary of assumptions about the model environment before the lockdown.
Figure 5. AS-AD diagram with a shock to supply, and a resulting decline in demand.
Figure 6. The Keynesian Cross of sector 2 in which expenditure from sector 1 workers in sector 2 is treated as exogenous.
Figure 7. The two-sector Keynesian Cross and the result of a lockdown.
Figure 8. Investment in sector 1 and sector 2 as a function of the interest rate.
Figure 9. The -curve shifts by more than a fraction,
, as the result of a lockdown.
Figure A1. The Keynesian Cross of sector 2 with autonomous consumption, in which expenditure from sector 1 workers in sector 2 is treated as exogenous and disappears in a lockdown.
