In this paper, we summarize a series of dynamic Keynesian models of monetary and fiscal stabilization policies that were presented in our previous works. All models are formulated by systems of nonlinear differential equations. We take up three models sequentially. The first model is the simplest two-dimensional model of monetary stabilization policy without debt effects. The second model is more complicated four-dimensional model of monetary stabilization policy with private debt effect. The third model is the most general six-dimensional model of monetary and fiscal stabilization policy mix with twin (private and public) debt effects. These models produce various types of dynamic behaviors (stable, unstable, and cyclical behaviors) according to the crucial parameter values.

  This study examines economic disparities through the lens of wage inequality. We analyze the macroeconomic effects of changes in key parameters related to wage inequality and average labor productivity (ALP) using a high-dimensional dynamic Keynesian model that incorporates an endogenous growth cycle with wage inequality. Building on the traditional labor-saving technical progress function, we aim to formulate a more comprehensive ALP function that explicitly includes labor-intensive behavior. We argue that the procyclical behavior of ALP is a fundamental contributor to the dynamic stability of an economy with wage inequality, and that some components of this behavior function as built-in stabilizers.

  This paper investigates references to Keynes and Keynesianism in Britain’s Hansard and Japan’s National Diet records over nearly eight decades. Using both simplified and corpus-based searches, it identifies peaks in parliamentary discourse while exposing linguistic and institutional obstacles to measurement. In Britain, references spiked in the 1940s, resurged in the late 1970s and 1980s, and declined sharply after 2015. Japan shows major waves in the 1980s and 1990s, followed by a similar fall. Long-run correlations between the two countries are weak, but rolling-window analyses reveal short periods of strong convergence. The results highlight not only the methodological limits of frequency analysis but also a puzzle for future research―the rapid disappearance of Keynesian references after 2015―while confirming that Keynesian thought has persisted over the long term as a living element of parliamentary economic discourse.

  This paper focuses on the relationship between Keynes and chartalism. Keynes’s Treatise on Money is often cited by both proponents of endogenous money supply theory and Modern Money Theory (MMT). While these theories share a Keynesian foundation, they display certain disagreements. Each theory addresses a distinct aspect of money: endogenous money theory focuses on bank money, while chartalism emphasizes state money. Treatise on Money addresses both aspects of the nature of money. The aim of this study is to comprehensively investigate how Keynes addresses and integrates credit money theory with chartalism. Specifically, we also examine Keynes’s manuscripts on ancient currencies and other related documents. The conclusions of this study are as follows. First, Keynes begins by describing the account money and developing a nominal theory of money. Key aspects of his argument is the introduction of chartalism, and the detailed classification of money elucidates the system of coexisting state money and credit money. Nevertheless, Keynes does not sufficiently examine the process of the supply of bank money or the relationship between the state and money. Second, while Keynes delineates the history of money beginning with account money, he regards money as chartalistic since ancient times; in this sense, it is nearly synonymous with the origins of money in MMT. This evaluation indicates that the description mainly focuses on state money and omits the process of evolution of bank money. Keynes’s manuscripts on ancient currencies show the same disposition more clearly, and another feature is that these manuscripts refer to the religious aspect of money. Third, Keynes’s argument is eclectic in a certain sense but can be seen as an attempt to describe the coexisting system of credit money and state money. Consequently, his work is cited by both endogenous money theorists and MMT advocates.