Maggs Presents at International Atlantic Economic Conference
Dr. Gary Maggs, professor of economics, recently presented a co-authored paper at the International Atlantic Economic Conference in Charleston, South Carolina.
The paper was titled, “Time Dependent Aggregate Demand,” and Maggs wrote it with Dr. Ben Kyer, an economics professor at Francis Marion University.
It considers the substantial role that time plays in influencing the response of aggregate demand for any given change in the economy’s price level. A standard dynamic neoclassical model is analyzed within various economic time frames in order to derive a number of outcomes which serve as a basis for better explaining the varying responses of aggregate demand for given changes in the price level. In this way, the response to time can be thought of as implicit to the analysis. This then allows for the characterization of aggregate demand as being dependent not only on the traditional collection of money and goods market parameters, but also on the passage of time. This recognition has not only theoretical implications but also provides a number of nuances relating to the short- and long-run effectiveness of monetary and fiscal policy in a dynamic economy.
Since the late 1980s, Maggs has been a consistent presenter at this conference, which is attended by hundreds of economists each year. He and Kyer also have a number of publications that have appeared in the Atlantic Economic Journal since their involvement with the conference began.
The conference is hosted by the International Atlantic Economic Society (IAES), which was founded in 1973. The society identified a need for increased communication among economists across continents. Well-known economists from around the world have participated in the IAES global exchange, including Nobel laureates and leading government officials. In fact, approximately 20 percent of IAES Presidents have been awarded the Nobel Prize in Economics. Through its publications and conferences, the society promotes the dissemination of economic and financial research within the international community.