nesianaggregateinvestmentfunctioninwhichaggregateinvestmentiswrittenasafunctionoftherateofinterest-thesamerisklessrateofinterestwhichappearslaterinthesystemintheliquidity-preferenceequation。
Yetfewwouldmaintainthatthisapproximationisadequate。
Atthemacroeconomiclevelthereareamplegroundsfordoubtingthattherateofinteresthasaslargeandasdirectaninfluenceontherateofinvestmentasthisanalysiswouldleadustobelieve。
Atthemicroeconomiclevelthecertaintymodelhaslittledescriptivevalueandprovidesnorealguidancetothefinancespecialistormanagerialeconomistwhosemainproblemscannotbetreatedinaframeworkwhichdealssocavalierlywithuncertaintyandignoresallformsoffinancingotherthandebtissues。
Onlyrecentlyhavee