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International Adjustment in the New Neoclassical Synthesis [PDF]
, 2007 This paper applies principles of the New Neoclassical Synthesis (NNS) to questions of international trade and financial adjustment. The analytical framework is a 2-country, 2-good, 2-period model designed to explore the behavior of the balance of payments, the terms of trade, and aggregate fluctuations in terms of interest rate and exchange rate ...
Marvin Goodfriend, Goodfriend, Marvin
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Monetary Policy in the New Neoclassical Synthesis: A Primer [PDF]
International Finance, 2002 This primer provides an understanding of the mechanics and objectives of monetary policy using a benchmark new neoclassical synthesis (NNS) macromodel. The NNS model incorporates classical features such as a real business cycle (RBC) core and Keynesian features such as monopolistically competitive firms and costly price adjustment.
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WAGE FLEXIBILITY AND THE STABILITY ARGUMENTS OF THE NEOCLASSICAL SYNTHESIS
Metroeconomica, 1996ABSTRACTThis note fills a lacuna in the neoclassical synthesis and completes its dynamic disequilibrium processes by including adjustments of the money wage rate in response to excess demand on the labour market. A Walrasian and a Keynesian variant are distinguished.
Flaschel, Peter, Franke, Reiner
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Fiscal Policy in the New Neoclassical Synthesis
Journal of Money, Credit, and Banking, 2003We analytically derive the cyclical effects of fiscal policy shocks in a New Neoclassical Synthesis model. Price stickiness has the consequence that a rise in government demand affects labor demand, while at the same time the usual wealth effect boosts labor supply.
Ludger Linnemann, Andreas Schabert
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Paul A. Samuelson and the Neoclassical Synthesis
SSRN Electronic Journal, 2014This paper explores Samuelson's concept of the neoclassical synthesis. It is argued that his two main books hold out different types of synthesis. Foundations offered a synthesis based on common mathematical structures and presages the attempts to synthesize economics by Don Patinkin and Robert Lucas.
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Graphical Analysis of the New Neoclassical Synthesis
SSRN Electronic Journal, 2006In this paper we present a graphical analysis framework for the new neoclassical synthesis, which can be used to explain and interpret the behavior of the new neoclassical model under shocks. We elaborate the role of expectations on output and inflation as well as the influence of the monetary authority.
Guido Giese, Helmut Wagner
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CLASSICAL, KEYNES' AND NEOCLASSICAL INVESTMENT THEORY—A SYNTHESIS
Oxford Economic Papers, 1986This paper presents an investment theory for the firm and the indu stry under rational expectations that encompasses: (1) classical capital theory; (2) a solid microeconomic basis for Keynes's investment theory; and (3) traditi onal neoclassical investment theory for the firm.
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