Results 1 to 10 of about 601,094 (287)
Keynesian, New Keynesian, and New Classical Economics [PDF]
Oxford Economic Papers, 1987 Formal developments of the Keynes's General Theory, while attempting to achieve a new classical synthesis of the realities of observed macroeconomic fluctuation and unemployment with classical microeconomics, have come to be surprisingly closely tied to the old classical models.
Stiglitz, Joseph E., Greenwald, Bruce C.
core +8 more sources
On the Indeterminacy of New-Keynesian Economics [PDF]
SSRN Electronic Journal, 2004 We study identiÞcation in a class of three-equation monetary models. We argue that these models are typically not identiÞed. For any given exactly identiÞed model, we provide an algorithm that generates a class of equivalent models that have the same reduced form.
Andreas Beyer, Roger E. A. Farmer
core +10 more sources
The role of taxes as automatic destabilizers in New Keynesian economics [PDF]
Journal of Public Economics, 2000 Abstract This paper analyses the effects of taxation in New Keynesian economics. The results show that taxes contribute to price and wage stickiness and, moreover, that the resulting fluctuations in welfare are magnified by the presence of taxes. These results are at odds with the old Keynesian idea of automatic stabilizers.
Kleven, Henrik Jacobsen +1 more
+9 more sources
New-Keynesian economics: An AS–AD view [PDF]
Research in Economics, 2015 Abstract A simple New-Keynesian model is set out with AS–AD graphical analysis. The model is consistent with modern central banking, which targets short-term nominal interest rates instead of money supply aggregates. This simple framework enables us to analyze the economic impact of productivity or mark-up disturbances and to study alternative ...
Pierpaolo Benigno
openaire +4 more sources
The State of New Keynesian Economics: A Partial Assessment [PDF]
Journal of Economic Perspectives, 2018 In August 2007, when the first signs emerged of what would come to be the most damaging global financial crisis since the Great Depression, the New Keynesian paradigm was dominant in macroeconomics. Ten years later, tons of ammunition has been fired against modern macroeconomics in general, and against dynamic stochastic general equilibrium models ...
Jordi Gaĺı
+6 more sources
Is New Keynesian Economics Really New? An Answer in a New Keynesian Perspective [PDF]
Research Papers in Economics, 1996 This paper contrasts the descriptive and normative properties of the New Keynesian general equilibrium models with those of other Keynesian paradigms, such as the neoclassical sintesi and the post Keynesian ones. We argue that the co-ordination failures, which are pivotal within the New Keynesian setup deliver an alternative picture of the market ...
BENASSI C. +2 more
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'New Consensus' New Keynesianism, and the Economics of the 'Third Way' [PDF]
SSRN Electronic Journal, 2003 In this paper we seek first to set out the economic analysis that underpins the ideas of what has been termed the "third way." The explicit mention of the "third way" is much diminished since the early days of the Blair government in the UK and the Schroeder government in Germany.
Malcolm Sawyer +2 more
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The Evaluation of Post-Keynesian Economics A Comparative Analysis [PDF]
, 2015 In this article, we will make a comparative analysis of the evaluation and the developments in the Post-Keynesian Economics and then give the properties of Post-Keynesian Economics in terms of their assumptions and methodology, and their macroeconomic ...
Hiç, Özlen
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New Keynesianism and Aggregate Economic Activity [PDF]
The Economic Journal, 1998 This paper addresses various attempts by so-called new Keynesians, writing mainly in the 1980s and 1990s, to strengthen the analytical basis, in particular the microeconomic foundations, of these assertions. What, exactly, have then the new Keynesians accomplished, and how should their contributions be valued in the relation to other recent ...
openaire +3 more sources
Behavioral Economics and Macroeconomic Models [PDF]
, 2014 Over the past 20 years, macroeconomists have incorporated more and more results from behavioral economics into their models. We argue that doing so has helped fixed deficiencies with standard approaches to modeling the economy—for example, the ...
Driscoll, John C., Holden, Steinar
core +1 more source