Results 1 to 10 of about 200,247 (275)
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
semanticscholar +11 more sources
Marc Lavoie, Post-Keynesian Economics: New Foundations
Revue de la Régulation, 2014 Le premier chapitre de l’ouvrage de Marc Lavoie a en realite deux objets. Tout d’abord, il constitue une longue introduction a l’ouvrage de 660 pages dans lequel l’auteur offre une presentation exhaustive et personnelle du programme de recherche postkeynesien. Ensuite, il fournit les bases d’une reflexion stimulante sur la place de l’heterodoxie face a
Antoine Godin
doaj +17 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 Galı́
semanticscholar +6 more sources
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
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
semanticscholar +9 more sources
Evolution of New Keynesian Economics
Procedia Computer Science, 2019 Abstract In this article, the developments in the New Keynesian Economics which sprang up in USA during the ‘80s will be discussed and then the properties of the Keynesian Economics in terms of their assumptions and models will be analyzed. New Keynesian Economics is based upon the Keynesian System also considers that when the economy left to itself
Özlen Hiç
semanticscholar +4 more sources
Methodological Issues and the New Keynesian Economics
, 1991 While recent alternative approaches to macroeconomics have all begun with the presumption that macro-economic behavior ought to be derived from micro-economic foundations, they have differed in their views concerning the appropriate micro-foundations.
Joseph E. Stiglitz, Joseph E. Stiglitz
semanticscholar +5 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
semanticscholar +8 more sources
FORMATION AND MAIN IDEAS OF THE NEW KEYNESIAN ECONOMICS
Market Infrastructure, 2023 The world economy and the phenomena that emerge in it are developing so rapidly in the current environment that traditional scientific schools, methods or recommendations are unable to actively explain them, let alone provide practical recommendations to
Taras Ivashkiv, Тetyana Рertsovych
openalex +2 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