The Elusive Welfare Economics of Price Stability as a Monetary Policy Objective: Why New Keynesian Central Bankers Should Validate Core Inflation [PDF]
, 2006 Willem H. Buiter
openalex +1 more source
Jørgen Pedersen on Fiscal policy - A note [PDF]
With The General Theory Keynes initiated a true revolution in the field of economics putting forward a new way of reasoning which gave way to modern views on economic policy.
Finn Olesen
core +1 more source
New consensus, new Keynesianism, and the economics of the third way [PDF]
, 2002 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
Arestis, Philip, Sawyer, Malcolm
core
The New Classical Counter-Revolution: A False Path for Macroeconomics [PDF]
This article contends that the "new" classical counter-revolution that began in the 1970s has been a false path for macroeconomics. Keynesian economics nicely explained the 1970s stagflation that followed the world oil price hike with a shift up of the ...
Laurence S. Seidman
core
The New Keynesian Economics Models: Structure, Disadvantages and Perspectives [PDF]
, 2013 Jan Kodera, Tran Van Quang
openalex +1 more source
Phillips Curves and Unemployment Dynamics: A Critique and a Holistic Perspective [PDF]
The conventional wisdom that inflation and unemployment are unrelated in the long-run implies that these phenomena can be analysed by separate branches of economics. The macro literature tries to explain inflation dynamics and estimates the NAIRU.
Dennis J. Snower +2 more
core
Book review: Lavoie, M. (2014): Post-Keynesian Economics: New Foundations, Cheltenham, UK and Northampton, MA, USA (680 pages, hardcover, Edward Elgar, ISBN 978-1-84720-483-7) [PDF]
, 2015 John McCombie
openalex +1 more source
Comment on Identification with Taylor Rules: is it indeed impossible? Extended version [PDF]
Cochrane (2007) points out that the Taylor rule parameters in New-Keynesian models are not identified, and thus trying to estimate them through single-equation regressions is pointless.
Carrillo, Julio A.
core +1 more source
On the Need for New Economic Foundations: A Critique on Mainstream Macroeconomics
Cadmus, 2012 The body of macroeconomic theory known as the neoclassical-Keynesian synthesis, hereafter mainstream macroeconomics, has dominated the practice of economics since the middle of the twentieth century and is largely unchallenged in institutions that teach ...
Robert Hoffman
doaj